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Bitcoin breaches $12,000 level for first time since January 2018

Bitcoin, the world's largest cryptocurrency by market cap surpassed $12,000 level for the first time today in almost a year and a half (since January 2018). Bitcoin, that traded in the range of $3,000-$4,000 for the first four months of 2019, has more than tripled this year.

twitter-logo BusinessToday.In        Last Updated: June 26, 2019  | 17:24 IST
Bitcoin breaches $12,000 level for first time since January 2018
itcoin, that traded in the range of $3,000-$4,000 for the first four months of 2019, has more than tripled this year.

Bitcoin, the world's largest cryptocurrency by market cap surpassed $12,000 level for the first time today in almost a year and a half (since January 2018). Bitcoin, that traded in the range of $3,000-$4,000 for the first four months of 2019, has more than tripled this year.

After crossing $10,000, barrier early on Saturday, June 22, the world's most widespread cryptocurrency today soared by 7.8 percent on a 24-hour basis and broke the $12,000 barrier. The interest in the cryptocurrency rose after facebook unveiled Libra, social media's alternative to the bitcoin.

On a year-to-date basis, Bitcoin surged 216 percent and is currently trading at $12,579.00, up by $1,292.44 (10.27%) as of 1:40 pm in India. In comparison, Sensex has gained nearly 9% in this year so far.

Bitcoin climbed above $12,000 for the first time in December 2017 and spent about six weeks above the $ 12,000 level. However, the digital currency is still trading way below its all-time high record level of $19,511, witnessed on 17 Decemder 2017.

(Edited by Rupa Burman Roy)

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