The bitcoin price recorded a high of $9,600 per bitcoin on the Luxembourg-based Bitstamp exchange, up almost 5% over the last 24 hour trading period and a staggering 160% since the beginning of 2019. Google Trends data shows searches for bitcoin hit 12-month highs earlier in May as speculation around Facebook's plans for a potential bitcoin rival reached fever-pitch. CoinDeskElsewhere, it's been suggested the bitcoin price could have been boosted by the U.S. Federal Reserve hinting it could cut interest rates as soon as next month to spur growth. The U.K.'s Bank of England today announced it would hold interest rates at 0.75% as many of the world's central banks take increasingly dovish stances. Bitcoin rival litecoin is scheduled for a halvening event in August, while bitcoin is set for one in May next year and could be heading for a "supply shock" as a result.

Source: Forbes June 20, 2019 21:13 UTC