Bitcoin reaches new record high, breaks $9,000

 

The price of one bitcoin passed $9,000.

Bitcoin is getting closer and closer to $10,000.The cryptocurrency hit a record high of $9,033 per bitcoin early Sunday morning. The price rose steadily over the weekend and surpassed $9,000 at around 6:40 a.m. UTC (1:40 a.m. ET), according to CoinDesk’s Bitcoin Price Index. It now has a market cap of more than $150 billion.

 Another digital currency ethereum also hit an all-time high of $485.18 on Saturday but has since dropped to $461.79 on Sunday, according to CoinMarketCap.

Bitcoin had been on an incredible run in the latter half of 2017. It was valued at $1,000 at the beginning of the year and is now closer to reaching the $10,000 mark as we inch toward to 2018. Bitcoin’s value surpassed $5,000 and $6,000 in October and then rose over $7,000 and $8,000 in November.

Price per one bitcoin

Price per one bitcoin

 

That said, it’s too early to tell when the price of Bitcoin will reach that $10,000 milestone because the markets act irrationally and could face a price correction, as The Merkle noted.

Bitcoin was boosted by investor interest around Thanksgiving and Black Friday shopping, a digital assets analyst suggested to CNBC.

Indeed, Coinbase, the largest bitcoin exchange in the U.S., added around 100,000 accounts between Wednesday and Friday this week to reach a total of 13.1 million. Coinbase had 4.9 million users this time last year, according to CNBC.

 

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