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Bitcoin Hits New All Time High

The price of bitcoin has risen sharply, exceeding the $3,200 level for the first time on the CoinDesk Bitcoin Price Index (BPI).

The market advance began after 1:00 UTC, when the price of bitcoin climbed above $2,900, market data shows, crossing the $3,000 line around 3:12 UTC.

Markets hit a high of $3,216.02, according to the BPI, and at press time are currently trading at an average of $3,154.94. Per the BPI, bitcoin’s price hasn’t been above the $3,000 level since June 12.

The price advance also pushed bitcoin’s collective market capitalization past the $50 billion mark for the first time. According to the BPI, bitcoin’s market cap is around $52.35 billion at press time.

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