Bitcoin Has Just Broken Through $11,000 For the First Time in Weeks

Cryptocurrency bitcoin has just broken through the $11,000 mark this past weekend. It is the first time the digital currency has passed the mark since January.

The price of bitcoin has been slowly rising since it hit under $6,000 not too long ago. The digital currency has been extremely volatile in recent months with hitting a record high of over $19,000 in December and then quickly hitting under $6,000 earlier this month.

Bitcoin hit as high as $11,279.18 on Sunday according to CoinDesk’s bitcoin price index.

Recently Vitalik Buterin, the founder of another cryptocurrency called Ethereum, has warned people that cryptocurrencies could potentially fall to “near-zero” at any time.

Buterin recently tweeted:

Time that it takes for scammers to copy my new profile picture: 10 minutes.
DON’T TRUST ANYONE ASKING FOR OR OFFERING MONEY ON TWITTER.
DON’T TRUST ANYONE ASKING FOR OR OFFERING MONEY ON TWITTER.
DON’T TRUST ANYONE ASKING FOR OR OFFERING MONEY ON TWITTER.

The blockchain network founder said over the weekend on his Twitter, “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don’t put in more money than you can afford to lose.”

Since bottoming out to $5,947.40 on February 6th, bitcoin has jumped back over 80%.

According to Tom Lee, bitcoin could head to $25,000 this year. He was the first major Wall Street strategist to cover bitcoin.