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Bitcoin Price Hits $450 For The First Time in 2015
The price of bitcoin surpassed the $450 mark today for the first time since November 2014.
Updated Sep 14, 2021, 2:00 p.m. Published Nov 4, 2015, 11:02 a.m.
The price of bitcoin surpassed the $450 mark today for the first time this year.
According to CoinDesk's USD Bitcoin Price Index (BPI), bitcoin opened the day at $400.71 before increasing 12.5% to $450.60 at10:49am (UTC). It has since increased to $452.17 at press time.
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Today's peak price marks another yearly high for the digital currency, which passed the $400 mark for the first time since November 2014 just yesterday.
In the last month, the price of bitcoin has increased by 88.5%, having closed on $238.69 on 4th October.
Bitcoin's performance in the last three months have seen its value rise by 58%, closing the day's trading on $284.50 on 4th August.
Today's peak price marks an increase of 43% since the beginning of this year, when bitcoin closed at $313.92 on 1st of January before plummeting to $177.28 on 14th January.
Man image via Shutterstock.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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