Bitcoin surpasses $9,000, setting another yearly record

Yet again, Bitcoin’s price is on the up, surpassing the $9,000 threshold for the first time this year.

According to CoinMarketCap, the last time the market leading cryptocurrency stood at more than $9,000 was 13 months ago, in early May 2018.

This isn’t the first time Bitcoin has set a new yearly price record. Back in May, the digital coin surpassed $8,000 for the first time since July 2018.

As ever, it’s difficult to pinpoint exactly what is causing the cryptocurrency’s price to rise as it has over the past few months. But there’s plenty of speculation attempting to explain its recent movements.

While this is the first time the market aggregated average price for Bitcoin has surpassed $9,000, earlier in May it briefly hit $9,097 on Luxembourg-based exchange Bitstamp.

For now, Bitcoin sits at just above $9,000, priced at $$9,183.21 according to CoinMarketCap.

Disclaimer: This is not investment advice. Readers are advised to do their own research before investing in any kind of digital asset or cryptocurrency.