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Bitcoin Price Spikes Above $1,300 As ETF Outcome Nears
Bitcoin prices saw a significant price spike this morning, briefly shooting above $1,300 to hit a new all-time high.
Bitcoin prices saw a significant price spike this morning, briefly shooting above $1,300 to hit a new all-time high.
Markets peaked at an average of $1,325.81, according to the CoinDesk Bitcoin Price Index (BPI), before falling sharply back below that level to hit a daily low of $1,178.54 – a change of roughly $133 within minutes. The price drop appears to have been seen most directly on digital currency exchange Bitfinex, reaching a low of $1,067.20, according to BFXData.com
STORY CONTINUES BELOW
At press time, the price is an average of $1,263.98, BPI data shows.
The price developments come as the US Securities and Exchange Commission nears a decision on a rule change that would clear the way for a proposed bitcoin exchange-traded fund (ETF). That decision is expected today, though as of press time, the agency has yet to release any information regarding the ETF.
Image via Shutterstock
Update: This article has been updated to reflect that the price of bitcoin fell to a low of $1,067.20 on Bitfinex during the market drop.
Stan Higgins
A member of CoinDesk's full-time Editorial Staff since 2014, Stan has long been at the forefront of covering emerging developments in blockchain technology. Stan has previously contributed to financial websites, and is an avid reader of poetry.
Stan currently owns a small amount (<$500) worth of BTC, ENG and XTZ (See: Editorial Policy).
