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Bitcoin price (BTC/USD) hits new all-time high after Sunday surge

on Dec 4, 2017
Updated: Oct 11, 2019
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The Bitcoin price (BTC/USD) has hit a new record after launching a surprise attempt at $12,000 on Sunday.

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Having opened yesterday’s session at just over $11,000, Bitcoin around 11:00 GMT experienced a sudden surge, which propelled its price to never before seen levels of over $11,500. The price then gradually advanced to $11,858.70 – its new all-time high, according to Coinmarketcap – but then nosedived to an intraday low of $10,862.00. However, it managed to stage a bit of a recovery toward the end of the session, which led it to a close of $11,323.20.

Bitcoin has moved higher in today’s trading and is currently trading at around $11,600. It has gained over 3% in the last 24 hours.

The fresh record came at the end of an eventful week for Bitcoin, during which the original cryptocurrency saw wild price swings, but ultimately moved higher, despite extreme volatility. Investors reacted to news that Nadsaq Inc reportedly plans to launch Bitcoin futures next year, with trading volume levels surpassing $11.5 billion on November 29.

Two days later it was announced that the US Commodity Futures Trading Commission had greenlit similar plans for launching Bitcoin-based derivative products by CME Group, CBOE and Cantor Fitzgerald. It was further revealed that CME would start offering futures on December 18, while CBOE would launch its own futures contracts possibly by the end of the year. Meanwhile, Cantor Fitzgerald’s Cantor Exchange will offer Bitcoin binary options.

In today’s trading, the Bitcoin price stood at $11,583.20, as of 09:55 GMT. The cryptocurrency has gained 3.1% in the past 24 hours. Its market capitalisation currently stands at $193.6 billion, which represents 55.8% of the value of the entire cryptocurrency market.

For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.

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