At 01:28 UTC today, the Bitcoin price exceeded previous highs and reached the critical milestone of $10,000. Market data from Bitfinex confirms that after reaching $10,000, a rush of buying brought the price briefly to $10,882 before a small sell-off which took Bitcoin down to $10,041. Since then, the price has been moving upwards again towards the recently achieved all-time high.
Bitfinex is an important exchange to keep an eye on during milestone price movements, as it currently accommodates more BTC/USD volume than any other cryptocurrency exchange.
It was only last month that the Bitcoin price was trading within a range of $4,200 to $6,400, an important reminder of the extreme growth this past month. Since then, Bitcoin has regularly been hitting new all-time highs in the lead up to this notable milestone.
Whether or not the move above $10,000 is sustainable remains to be seen. Some experts believe a correction is imminent whereas others think Bitcoin will soon move to new highs due to the mainstream adoption taking place.