Bitcoin Shatters All Time High: Rallys Above $1200

Bitcoin shattered its all time high today reaching $1222.40 $BTCUSD on Bitfinex. XBT LivePrice shows the current price at press time:

xbtliveprice-plus1200-2017-02-23

Three Year Chart
The three year chart shows both up and downtrends with October 2017 the start point of the latest rally to the all time high:

chart-bitfinex-3years-2017-02-23

One Week Chart
The one week chart shows the various price and volume movements over just the past week:

chart-bitfinex-1week-2017-02-23

24 Hour Chart
The 24 hour chart shows today’s ascent in a one day view:

chart-bitfinex-1day-2017-02-23

Reasons for the rally
Reasons for any price movement can be a matter of conjecture. Nonetheless the environment has some compelling factors that could significantly influence the price. These include sustained Chinese demand, trader’s response to Vinklevoss SEC application for a bitcoin ETF, favorable bitcoin press in publications such as TechCrunch, Mt. Gox latent reaction, stock market rally, new American jobs favorable economic agenda, and more.

Whatever the reason/s this latest bitcoin high is very possibly symptomatic of even bigger rallies yet to come, even if the ensuing descent takes bitcoin sub $1000.

At press time OKCoin.com is showing what looks like a strong descent with price at $1074:

chart-okcoin-1day-2017-02-23

Bitcoin Price All Time Chart

Blockchain.info publishes a realtime BTC chart. This is the entire history of bitcoin price in one chart:

chart-btc-alltime-history

All time chart
https://blockchain.info/charts/market-price?timespan=all

Two years ago you could have purchased a bitcoin for $228. BTC has increased five fold with today’s rally high.

Bitcoin Market Reports
Get an in depth look at this digital asset. Explore our comprehensive historical collection of Bitcoin Market Reports. [opens in new tab] Also available: Ethereum Market Reports.