Bitcoin prices have reached a new milestone, as the price has now officially traded above $1,000 for an entire month.
The digital currency’s price has remained above this level in spite of notable headwinds, specifically the rejection of the bitcoin ETF proposed by investors Cameron and Tyler Winklevoss, and the ongoing debate over how best to address the digital currency’s perceived technical limitations.
Bitcoin prices first crossed the $1,000 mark roughly halfway through 14th February, and reached one month above this level at approximately mid-day today, according to the CoinDesk Bitcoin Price Index (BPI).
During this month-long period, bitcoin primarily followed a steady, upward trend, making numerous attempts at breaking $1,300, BPI data shows.
Shortly after the SEC announced its decision, the currency plunged, falling nearly 30% from roughly $1,290 to $1,022.68, its low on the BPI, though single exchanges may have seen sharper declines.
At the time of report, bitcoin is trading at $1,249.64, roughly 25% above the $1,000 mark, BPI figures show.