Bitcoin (BTC) prices have been trading north of $760 for more than a week now, according to data from the CoinDesk USD Bitcoin Price Index (BPI).
The price has been lingering above this level during a seven-day period in which the digital currency hit a 34-month high. Markets surpassed $760 at 10:00 UTC on 7th December, managing to reach one week above this level early on 14th December, figures show.
Bitcoin prices surged to $788.49 on 13th December, which represented the currency’s highest price this year and also its most elevated price since February 2014.
Thus far in 2016, bitcoin prices have rarely surpassed $760, according to BPI data. The digital currency surpassed this price on 2nd December, the first time it had exceeded $760 since June, but quickly fell back below this level.
Over the next few weeks, bitcoin prices repeatedly flirted with their previous high of $781.31 reached in June, but continually failed to surpass that previous peak. However, on 13th December, the digital currency’s price broke past $781.31, hovering above that price for a few hours before declining back below $780.
Image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.