The price of the world’s most popular digital currency, bitcoin, has extended its rally and climbed above the psychological $12,000 mark – a level unseen since August, 2019.
Bitcoin hit $12,107.51 per token at 4:15am GMT on Sunday, but then started to lose some of the gains, dropping by over $1,000 in less than an hour. The cryptocurrency was trading at $11,312.36 as of 06:30am GMT, around three percent lower than 24 hours ago, according to Coindesk data.
The digital currency managed to record a strong upward trend in the last few days. The $12,000 mark is the second remarkable level it has crossed just this week. On Monday, bitcoin surged to an almost two-month peak, over $10,000.
Bitcoin gained 24 percent last month, according to online database Messari. July also marked the highest monthly close for the virtual currency since 2017 – the year bitcoin reached its all-time high.
