Quiet Surge: Bitcoin Price Sets New High Above $6,000

NEWS
Stan Higgins
Oct 20, 2017 at 15:10 UTC  |  Updated  Oct 20, 2017 at 22:31 UTC

The price of bitcoin has hit a new all-time high, crossing the $6,000 line for the first time.

Markets climbed as high as $6,003.81, according to CoinDesk's Bitcoin Price Index (BPI). This figure surpasses the previous all-time high set on October 13, when the price rose to $5,856.10.

BPI data shows that the price climbed more than $200 in the past hour, with markets showing an average price of $5,697 prior to the ramp. At press time, the price of bitcoin is trading at around $5,968.

Figures from CoinMarketCap.com show that some exchanges are currently reporting a price above $6,000, including Bitfinex and Bithumb, the world's two largest exchanges by volume.

Today's move pushes the network's collective market capitalization closer to the $100 billion line. At press time, according to the BPI, bitcoin's market cap is roughly $99.5 billion.

Image via Shutterstock

Update: This story has been updated to reflect new market data after bitcoin's price rose above $6,000.

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