The price of bitcoin (BTC) broke $9,200, reaching a high not seen in more than a year and breaking through critical upper resistance that the price has struggled to pass for more than a month.
Since hitting a 2018 price low of $3,112 on December 15, 2018, bitcoin’s price has increased by nearly 300 percent.
The initial surges in price from the beginning of this year have been attributed to many factors, the most popular being the growing trade war between the governments in the US and China, concern about the US federal reserve, and increased adoption from major corporations.
Many now see questions concerning the future of the petrodollar and a possible US war against Iran as correlating to this recent rise.
**Updated price as of 05:18 UTC**