Bitcoin prices climbed to a fresh record today, surpassing $55,000 as the digital currency continued its strong, upward trend.
The cryptocurrency, which recently surpassed a market capitalization of $1 trillion, reached $55,707.21 this afternoon, according to CoinDesk data.
At this point, bitcoin was up more than 90% in 2021, having opened the year at roughly $28,900, additional CoinDesk figures show.
The digital currency has been rising to increasingly impressive all-time highs, having already dwarfed the previous record price level of nearly $20,000 set in 2017.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Bitcoin’s Bull Run ‘Just Beginning’
While bitcoin has enjoyed some very compelling gains this year, analyst Vinny Lingham stated that “this bull run is just beginning.”
When explaining this point of view, Lingham, cofounder & CEO of Civic, emphasized current market conditions, as well as the incentives they give investors.