Bitcoin price is now at a new all time high in the Indian market, according to an analysis from CoinMarketCap.
The Bitcoin price reached $5,933 on Monday, up from a low of $3,788 on Monday and a high of $8,069 on Thursday.
The price of bitcoin, however, is still well below its all-year high of more than $10,000 in July, which helped lift the price to record highs.
The increase in the price of bitcoins is also due to a strong increase in demand for the digital currency, which has helped drive the price up over the past week.
The value of bitcoins, which fluctuate based on supply and demand, is currently worth around $2,100 per coin, according a CoinMarketcap analysis.
However, as demand for bitcoins increases, the price will likely remain low until it rebounds to the level where it was on the day it was last trading below $2.25.
The next big milestone for bitcoin is expected to be when the Chinese government decides to allow bitcoin exchanges to operate.
Bitcoin prices were up more than 40% over the last year and the Chinese authorities are expected to approve bitcoin exchanges later this month.