Newsflash: Bitcoin Price Hits an All-Time High Beyond $4,650

Bitcoin price rose significantly during trading on Tuesday to hit a new all-time high.

The price of bitcoin took a sharp upward turn on Tuesday where the cryptocurrency began trading around just under $4,375 on the Bitstamp Price Index (BPI). On a global average, trading at the crack of Tuesday hovered near $4,400. Steady trading ensued before climbing north of $4,450 at 13:00 UTC. The spike came soon after, with prices turning toward a steep ascent to scale $4,650 before 13:50.

At the time of publishing, prices have trailed in a correction but continue to trade above $4,550, above the previous all-time high near $4,500 set on August 18. Bitcoin’s marked gains today comes as Ethereum’s ether prices hit a 2-month high above $360 on a record-setting day for cryptocurrencies whose collective market cap has now scaled beyond $160 billion. Altogether, bitcoin has now gained 350% in 2017 after ringing in the year at $1,000.