Bitcoin Price Hits $31,000 For The First Time
Bitcoin Price Hits $31,000 USD for First Time Ever
Bitcoin (BTC) crossed the $31,000 mark today for the first time in the history of the cryptocurrency.
Bitcoin‘s recent remarkable rise has continued, with the price of the leading cryptocurrency price hitting $31,000 USD. After rising more than 300% throughout 2020, including a surge of nearly 50% in December alone, Bitcoin had struggled to hit the $30,000 USD valuation in the past few days. However, once it broke that mark it kept rising to a current valuation of slightly over the $31,000 USD mark.
Overall, the new record figure tops off an impressive year for Bitcoin. Back in November last year, the cryptocurrency surged to break its record high valuation for the first time since 2018 with a price of slightly over $17,900 USD. Earlier in 2020, the valuation had fallen as low as $4,000 USD.
The price of Bitcoin surpassed the $31,000 level and was trading at $31,308 during the morning, according to TradingView data.
The leading cryptocurrency has been on a bull run since September when it traded at $10,138. Its current capitalization is over $570 billion.
BTC price reached first all time high, $20,000, on Dec. 16. It grew up to $24,000 three days later, and then went up to $28,000 on Dec. 26.
The bull run is here to stay, according to some analysts.
In a recent report, one of Citibank’s senior analysts calls Bitcoin “21st century gold,” and projects the price to potentially hit $318,000 by December 2021.