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Bitcoin rips through $12,000 for the first time in over a year

Bitcoin continues its rapid growth as it hits $12,000 for the first time in over a year, reports Coin360.

Bitcoin (BTC) breached the $12,000 level earlier this morning after mostly trading sideways around the $13,000-$4,000 range for the first months of this year.

Bitcoin is now trading at $12500, after having increased its value 11% over the last 24 hours.

Earlier this week pro trader Peter Brandt tweeted that bitcoin’s price is currently taking aim at a $100,000 target. According to Brandt, bitcoin is currently on its fourth parabolic growth phase, and “is a market like no other.”

Bitcoin has made fresh 15-month highs and volatility should see wild swings in both directions.