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Bitcoin Surges Past $12,000 to New 2020 High

This is the second time the bitcoin price has soared past the $12,000 milestone in 2020 – it still has a way to go before it closes in on the 2019 record.

By Paddy Baker

Updated Sep 14, 2021, 9:44 a.m. Published Aug 17, 2020, 5:29 p.m.

The bitcoin price surged to $12,000 this afternoon. (CoinDesk)

Bitcoin has risen above $12,000, exactly a week after it temporarily spiked past the key milestone.

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CoinDesk data shows bitcoin shot up at about 13:30 UTC, initially to $12,100, before jumping up again to just over $12,400 by 16:00 UTC, a 4.74% rise on the day.
While bitcoin is now at a new 2020 high, it still has some way to go before it beats last year's high of $13,800 and is still further off from the all-time high of just under $20,000 set in December 2017.

Following three months of ultra-low volatility, bitcoin shot up at from roughly $9,100 to over $11,000 in late July, before briefly spiking past $12,000 on Aug. 10.
Bitcoin had been continuously flirting with that milestone over the past seven days, coming as close as $11,990 late on Aug. 14.

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Paddy Baker

Paddy Baker is a London-based cryptocurrency reporter. He was previously senior journalist at Crypto Briefing. Paddy holds positions in BTC and ETH, as well as smaller amounts of LTC, ZIL, NEO, BNB and BSV.