Bitcoin price hits 18-month high at $465
Apparently, rumors of bitcoin’s death have been greatly exaggerated.
Bitcoin, the world’s largest digital asset and payment system when measuring by market capitalization, hit an 18-month high just north of $465 earlier this week, according to Coindesk‘s bitcoin price index.
The price for the so-called cryptocurrency has been steadily creeping higher since August when it fell to a 2015 low of $210.
The gains have occurred as a debate over certain proposed changes to bitcoin’s design has quieted down after previously threatening to split the network.
Because the market for bitcoin is so fragmented, prices can vary across different exchanges. Coincap.io, which has its own bitcoin price index, shows the price rose as high as $486 a coin in November.
Bitcoin rose to a record high near $1,250 in November 2013 before beginning a steady decline. The drop accelerated in the spring of 2014 after Mt. Gox, one of the largest bitcoin exchanges, collapsed after revealing that a large cache of customers’ bitcoins had been stolen by hackers.