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The Bitcoin Price Just Inched Up to Set Another All-Time High

The price of bitcoin reached its highest level ever on the CoinDesk Bitcoin Price Index today, climbing above $3,550 amid a period of strong gains.

By Pete Rizzo
AccessTimeIconAug 11, 2017 at 1:00 p.m. UTC
Updated Sep 13, 2021 at 6:49 a.m. UTC
bitcoin, computer

The average price of bitcoin across global exchanges today reached $3,550 on the CoinDesk Bitcoin Price Index, setting yet another new all-time high.

The uptick

coincides with a palpable improvement in public sentiment about the world's first cryptographic asset, with bitcoin recently receiving positive mentions from leading asset managers and gaining increasing exposure in western media.

At press time, bitcoin was trading at $3,550, a figure that has appreciated nearly 50% over the last month of trading. Data from the CoinDesk BPI indicates the price of bitcoin was just $2,423 on June 12.

Yet, the strongest growth has been seen in the last week, following a fork of the bitcoin blockchain that resulted in the creation of a new cryptocurrency, bitcoin cash.

Perhaps most notably, bitcoin is up nearly 25% on the week since the split, rising from $2,871 seven days prior, while bitcoin cash, the new blockchain, has climbed just 17%, rising to $340 from $290 one week ago.

The interplay between the two currencies will no doubt be one to watch, as it could change attitudes toward blockchain forks and provide an illustration of how cryptocurrency markets will respond to technical changes in the future.

Bitcoin image via Shutterstock

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.