The price of bitcoin has hit a new all-time high, crossing the $5,900 line for the first time.
Markets climbed as high as $5,996.10, according to CoinDesk’s Bitcoin Price Index (BPI). This figure surpasses the previous all-time high set on October 13, when the price rose to $5,856.10.
BPI data shows that the price climbed more than $200 in the past hour, with markets showing an average price of $5,697 prior to the ramp. At press time, the price of bitcoin is trading at around $5,996.
Figures from CoinMarketCap.com show that some exchanges are currently reporting a price above $6,000, including Bitfinex and Bithumb, the world’s two largest exchanges by volume.
Today’s move pushes the network’s collective market capitalization closer to the $100 billion line. At press time, according to the BPI, bitcoin’s market cap is roughly $99.5 billion.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.