MOSCOW (Pakistan Point News / Sputnik - 17th November, 2020) Bitcoin briefly traded above the $17,000 mark on Tuesday for the first time since January 2018, cryptocurrency charts showed.
According to CoinDesk, which indexes the averages of 20 cryptocurrency trading platforms, Bitcoin value increased by six percent over Tuesday alone. The market capitalization of the world's largest cryptocurrency rose to $315 billion, still short of its record of $335 billion, CionDesk reported.
As of 12:30 GMT, Bitcoin prices were hovering between $16,980 and $17,030 according to CoinDesk's charts.
Earlier in the day, US cryptocurrency exchange Coinbase crashed over large traffic as users ruched in to make trades in Bitcoin, which has grown in value from around $11,330 in one month, the platform reported.
This is a stellar 130 percent rebound from the crash in Bitcoin markets in March this year when it traded for less than $4,000.
The cryptocurrency experienced a frenzied spike in value in late 2017 when the price of one Bitcoin sold for a record $19,665. The cryptocurrency bubble then crashed in spring 2018 and has been incrementally on the rise since.
