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Bitcoin's Price is Flirting With $1,000

Bitcoin markets are breaking out, inching closer to $1,000.

Feb 2, 2017 at 2:50 p.m. UTC
Updated Sep 11, 2021 at 1:03 p.m. UTC

screen-shot-2017-02-02-at-2-30-44-pm

The price of bitcoin is inching closer to $1,000 once again.

Prices hit a high of $994.79 during morning trading, according to the CoinDesk Bitcoin Price Index (BPI), after opening at an average of $977.52. Prices haven’t exceeded $1,000 since 6th January, having crossed that benchmark on the first day of 2017.

The price of bitcoin is currently at an average of $993.04.

CNY-denominated markets are up more than 9%, reaching a high of ¥6,890.56. Those markets are averaging ¥6,865.50, BPI data shows, representing an increase of roughly 9.3%

Prices have been rising since earlier this week, a move that came amidst a shift in the exchange ecosystem amongst toward markets that don’t charge trading fees. Observers are split, however, on the long-term trajectory of these trends.

Image via Shutterstock

DISCLOSURE

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.

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