The price of bitcoin (BTC) broke above $9,000 on a bullish run at 9:00 UTC (4:00 a.m. EST). The world’s leading cryptocurrency by market capitalization is up 4 percent in the past 24 hours, with a high reaching $9,150 on exchanges including Coinbase.
The last time bitcoin traded above $9,000 was on Feb. 26.
An uptrend started taking shape at 0:00 UTC Thursday as prices broke out of a steady $8,600 to $8,800 range. Bitcoin quickly surpassed its 50-day moving average at that time on higher buying volume than the same period yesterday.
“The reckless ban on Indian banks working with cryptocurrency companies a few years ago was a big setback for Indian startups short term and the Indian economy long term,” Coinbase CEO Brian Armstrong wrote in a recent tweet.
Bitcoin hasn’t been in the $9,000 price range since Feb. 26. Year to date, bitcoin is up 26 percent, outperforming the S&P 500’s 5 percent decline since Jan. 1.
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