BITCOIN TOPS $1,700

The price of bitcoin continued its recent tear today, rising $60 on the day to cross the $1,700 mark for the first time in its history.

At $1,700, bitcoin prices are up 70% already on the year and around $200 on the week, having climbed from $997 in January to set a string of new highs. Minutes before press time, bitcoin’s new all-time high on the CoinDesk Bitcoin Price Index was $1,710.96.

As reported by CoinDesk, the uptick comes at a time when broader interest in the crypto markets appears to be increasing and winning new investors. While bitcoin is up 70%, alternative cryptocurrencies are up 600% since March.

The recent price rise, however, puts bitcoin at a level that analysts have suggested could prove a key resistance.