Bitcoin's stellar run continues with prices leaping one major psychological hurdle after another.
At 11:00 UTC today, the world's largest cryptocurrency by market value reached a new lifetime high of $15,058, according to CoinDesk's Bitcoin Price Index (BPI). In the last 24 hours, bitcoin (BTC) has appreciated by more than $2,000. As per CoinMarketCap, gains are close to 19 percent over the same period.
Prices have since dropped back slightly and stand at $14,562 at press time
The primary theory about the astonishing rally being put forward by investors on social media is that bitcoin is pricing in the entry of big institutional money via the introduction of the first BTC futures products.
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