Bitcoin Price Tear Breaks $6,500, a New Record High

Bitcoin price has just hit a new all-time high, breaking past $6,500 for the first time.

The momentum has stuck. Bitcoin price is now hitting at unprecedented levels after scaling the notable milestone of $6,500 on the first day of the month. At the turn of the year ten months ago, bitcoin’s trading value to the dollar touched $1,000 to ring in 2017. With today’s new record high, bitcoin has gained over 550% in value this year.

At press time, bitcoin price hit an all-time high of $6,548 on Bitfinex.

The world’s oldest cryptocurrency continues its concurrent all-time highs in recent days. On Sunday, bitcoin price pushed beyond $6,300 before hitting $6,400 yesterday.

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The ongoing rally is fueled by the announcement of the CME Group, the world’s largest derivatives exchange, to list bitcoin futures contracts before the end of the year. There is a bullish sentiment that bitcoin is now available to institutional investors who will gain access to bitcoin in a fully regulated derivates market.

Data from CoinmarketCap pegs bitcoin’s market cap at $109 billion while the entire market cap for all cryptocurrencies has also scaled a new record high near $183.5 billion.