According to recent charts, the price per bitcoin has surpassed it’s 2013 all time high (ATH) on February 23, 2017, reaching $1168 per BTC.
Bitcoin Crosses its All-Time Price High
Bitcoin’s price value has been on a tear throughout most of 2017 and just recently crossed its highest price point ever. Throughout the past few weeks, the cryptocurrency’s price movements have been slowly escalating upwards with a few hiccups along the way. News from China’s central bank imposing new regulations on Chinese exchanges slightly stirred markets but the price persevered throughout these events.
According to a few different price index sites, bitcoin reached a high of $1165 on November 30, 2013. The price didn’t stay high for very long and suffered a bearish decline over the course of the following year. This years bull run has seen bitcoin’s price remain above the 4-digit mark much longer than 2013’s rise. The run up of 2013 was also a bit more controversial as rumors of trading bots on Mt Gox may have attributed to the year’s price spike. The Mt Gox price ATH is an entirely different and debatable number showing bitcoin hitting $1236 per BTC on December 4th, 2013.
New Highs May Come as Bitcoiners Patiently Wait for the March ETF Decision
Currently, the price is struggling to maintain staying above $1168, but the 200 Simple Moving Average (SMA) shows strong support in this range. Technical indicators such as the Stochastic and the Relative Strength Index (RSI) show there may be some heavy selling for the time being. For now, charts suggest the bullish uptrend may take the price to newer ATHs after breaking more resistance.
Throughout bitcoin forums and social media sites, bitcoiners have been celebrating the price rise. Surpassing the 2013 rise is quite a milestone and this 2017’s run up has been entirely different from years prior. Many community members are speculating the price spike is due to the upcoming SEC decision concerning the approval of a bitcoin exchange-traded fund (ETF). Currently, there are three ETFs awaiting approval and bitcoin enthusiasts are hoping for an approved decision on March 11.
What do you think about bitcoin surpassing 2013’s ATH? Let us know in the comments below.
Images courtesy of Bitcoin Wisdom, Bitcoin Planet, and Bitcoinity.
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