Bitcoin prices rose sharply today, climbing past $7,000 and rising to their highest since June as strong momentum drove gains.
The digital currency's price hit $7,440.25 on the CoinDesk Bitcoin Price Index (BPI), up 11.7% gain from the daily low of $6,663.03.
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Bitcoin surge: multiple factors contributing to the rally?What factors make Bitcoin rise again? Will it continue to rise?
The Bitcoin price is expressed as an exchange rate in relation to another currency. At the time of writing, just over 13 million bitcoins are in circulation, meaning that an additional 8 million bitcoins will be mined over the next 95 years. Given this timescale and the decelerating rate of increase of the coinbase, the supply of bitcoin can, for practical purposes, be assumed to be constant. If you use or buy bitcoin the value will increase again.