Bitcoin Price Parabolic Advance Continues Past $12,000

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Bitcoin price has continued its rapid growth and on June 26 it hit $12,000 for the first time in over a year, according to Coin360.

Bitcoin breached the $12,000 level early this morning after mostly trading horizontally in the $13,000-$4,000 range for the first months of the year.

Press time bitcoin is trading at $12500, after having increased its value 11% over the last 24 hours.

As Cointelegraph reported at the time, one June 22 BTC crossed the $11,000 line in under 24 hours after breaking $10,000.

Earlier this week professional trader Peter Brandt also tweeted that bitcoin's price is currently taking aim at $100,000 target.

According to him, bitcoin is currently on its fourth parabolic growth phase, and "Is a market like no other."

The founder and CEO of Digital Currency Group argued earlier this month that it "Looks like, perhaps, we are coming out of a crypto winter and we've entered a crypto spring," in an interview with Bloomberg.

Also on June 22, Ethereum hit its 10 months high after on June 21 news broke that Grayscale's Ethereum-based security, Grayscale Ethereum Trust, is now available for trading on OTC Markets.

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