Bitcoin Price Crosses $31,000 For The First Time (Update)

Bitcoin crossed the $31,000 mark today for the first time in the history of the cryptocurrency.

What Happened: The price of Bitcoin surpassed the $31,000 level and was trading at $31,308 during the morning, according to TradingView data.

The leading cryptocurrency has been on a bull run since September when it traded at $10,138. Its current capitalization is over $570 billion.

The BTC price reached its first all-time high, $20,000, on Dec. 16. It went up to $24,000 three days later, and then went up to $28,000 on Dec. 26.

Bull Run: The bull run is here to stay, according to some analysts. 

In a recent report, one of Citibank’s senior analysts calls Bitcoin “21st century gold,” and projects the price to potentially hit $318,000 by December 2021.

Update: The price has continued to rise throughout the day and is now trading above $33,000.

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