28 Nov '16, 10pm

Bitcoin Has Now Been Trading Above $500 For Record Six Months

Bitcoin Has Now Been Trading Above $500 For Record Six Months

The price of bitcoin reached a new milestone on 28th November, as the day marked six consecutive months that the digital currency's price has traded above $500. According to the CoinDesk USD Bitcoin Price Index (BPI), the digital currency first reached the six-month mark at 20:30 UTC, as it rose above $500 on 28th May. At press time, bitcoin was trading above $730 on the BPI. This time frame represents the longest stretch in history where bitcoin has remained above $500. Even though the cryptocurrency surged to more than $1,100 in late 2013, reaching $1,165.13 on 30th November, it quickly fell back, declining below $500 on 18th December, 2013. Even discounting this one-day dip in price demand, that period above $500 came to an end in mid-March, marking a sustained value above this market for just over four months. Putting this in perspective, the digital currency has repea...

Full article: http://www.coindesk.com/bitcoin-price-500-record-six-months/

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