U.S. Markets open in 4 hrs 2 mins

Bitcoin Price Slays $8750, Hits 12-Month High in Sudden Parabolic Swing

Josiah Wilmoth
The bitcoin price surged to a new 12-month high on Sunday. | Source: Shutterstock

By CCN: The bitcoin price pounded to a new 12-month high on Sunday, slamming past the $8,750 mark in a vicious move that looks undeniably parabolic.

Bitcoin Price Surges to New 2019 High

bitcoin price

The bitcoin price smashed past $8,500 on Sunday, ascending as high as $8,800. | Source: BitcoinWisdom.io

Less than an hour ago, the flagship cryptocurrency was struggling to hold the $8,000 mark, and it looked like BTC would exit the weekend trading near that threshold.

That changed, almost in an instant, when the bitcoin price suddenly surged more than $600, easily topping the $8,500 level en route to setting a new high for 2019. An unfettered BTC continued to soar, eclipsing the $8,800 mark on Bitstamp shortly before press time.

New All-Time High Creeps Closer to the Horizon

Even more significantly, the surge awarded bitcoin a green yearly candle, meaning that investors who purchased BTC one year ago today could now sell at a profit.

 

bitcoin price

Crypto investors who bought BTC on May 26, 2018, are finally in the green. | Source: OnChainFX

Read the full story on CCN.com.