Bitcoin’s price has skyrocketed above $10,000 for the first time in 15 months.
At the time of publication, the cryptocurrency by market capitalization is trading at $10,805 – the highest level since March 8, 2018. On a 24-hour basis, BTC is outshining most top 10 cryptocurrencies with 7 percent gains.
Spike in the BTC price is supplemented by a 12 percent jump in trading volumes. According to CoinMarketCap, $21 billion worth of bitcoins have traded across cryptocurrency exchanges in the last 24 hours.
With the move above $10,000, bitcoin has erased more than 40 percent of the sell-off seen in twelve months to December 2018. Further, prices look set to end the second quarter with triple-digit gains.
While bitcoin’s long-term prospects look bright, the cryptocurrency may see a pullback in the short-term. After all, prices have rallied more than 140 percent in the last 2.5-months and bulls usually take a breather following such stellar gains.