Bitcoin Sets New All Time HIgh Above $6,000

Look out above! The price of bitcoin has hit a new all-time high, crossing the $6,000 line for the first time.

Markets climbed as high as $6,003.81, 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, reports Coindesk.

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 $5,968.

Investors are betting on future gains for the digital currency, especially as events in the next few weeks could remove major overhangs . Trading volume in bitcoin also far surpassed that of other digital currencies, indicating high investor demand. The gains are happening in the face of greater scrutiny from regulators and strong criticism from major bank executives. Next stop?