The price of bitcoin crossed the $9,000 threshold Sunday for the first time in more than a year.

Bitcoin












BTCUSD, +0.99%










  peaked around $9,385 in intraday trading, according to Coindesk. The cryptocurrency slipped in afternoon trading, and was last around the $9,000 level.

The digital currency is up more than 22% over the past 30 days, and up 142% year to date. Sunday’s intraday prices were the highest for bitcoin since May 2018, though still well off its all-time high above $19,000 in late 2017.

Investors have been bullish on bitcoin recently, with optimism stoked by the expected announcement this week that Facebook Inc.












FB, +2.18%










 will launch a new cryptocurrency, backed by a number of major companies, including Visa Inc.












V, +0.18%










 , PayPal Holdings Inc.












PYPL, +0.39%










  and Uber Technologies Inc.












UBER, -2.44%










 . The new coin, reportedly to be called Libra, would allow users to make purchases around the internet, not just Facebook.

READ  Bitcoin Price Analysis: BTC Soon To Record a New 2019 High Above $9,000? - CryptoPotato

Bitcoin’s rise has boosted the wider crypto market, with rival digital currencies such as ethereum












ETHUSD, +0.85%










 , bitcoin cash












BCHUSD, +0.87%










  and litecoin












LTCUSD, +0.14%










  also posting significant gains over the past week.



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