Bitcoin price edges toward $16,000

Bitcoin comes within sight of the $16,000 level. The last time the leading cryptocurrency traded at such elevated levels was at the start of January 2018.

Following an exponential rise, Bitcoin reached $15,968 (Bitstamp), after which a brief correction ensued. The rally was supported by rising trading volumes.

Intraday chart BTC/USD Bitstamp from TradingView.

Activity on the Bitcoin futures market also picked up significantly, with aggregate open interest reaching $5.7 billion.

New records were also recorded in the options market.

At the time of writing, Bitcoin’s price was only 22% below its all-time high set on 17 December 2017 (1054 days ago).

Source: Messari.

After reaching $20,089, Bitcoin’s price bottomed at $3,126 on 15 December 2018. Since then, digital gold has risen about 400%.

Over the past 24 hours, other popular crypto assets have also risen significantly:

The market capitalization of digital gold stands at $290 billion, with a dominance index of 64.5%, according to CoinGecko.

Earlier Bloomberg analyst Mike McGlone predicted a parabolic rise in Bitcoin in 2021.

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