Bitcoin’s price is rallying, surpassing the $8,000 for the first time this year.
According to CoinMarketCap, the digital currency last stood at around $8,000 in July last year.
It comes after the world’s most famous cryptocurrency reached a new yearly high, pushing past $5,600 earlier this month.
It’s difficult to ascertain what has caused Bitcoin’s price to surge in recent weeks, but as always speculation has been rife.
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Just yesterday, Hard Fork reported on Bitcoin’s upward movements, noting how its recent rise to $7,000 signified the strongest rally over a six-week period since the famous bull-run in 2017.
Although Bitcoin’s current value spells good news from cryptocurrency enthusiasts, the digital currency still has a long way to go if it’s ever going to reach the same levels it did in December 2017 when one coin was priced at more than $20,000.
For now, Bitcoin sits slightly above $8000, priced at $8,230.53 according to CoinMarketCap.
Disclaimer: This is not investment advice. Readers are advised to do their own research before investing in Bitcoin or other cryptocurrencies.
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