Bitcoin is getting close to its all-time high

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Bitcoin is closing in on a record high. The cryptocurrency trades up 1.2% at $1,270.66 a coin as of 10:41 a.m. ET. Tuesday's gain has bitcoin just below its record-high close of $1277.65 set on March 6.

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Four days later, bitcoin put in an all-time of $1327.19 just hours before crashing more than 25% after the US Securities and Exchange Commission rejected the Winklevoss twins' plans for a bitcoin ETF. The SEC rejected the plans for another bitcoin ETF just a few weeks after that.

However, bitcoin has rallied off its March 24 low of $959.45 as it has gained acceptance elsewhere. First, Japan announced it was accepting the crypticurrency as a legal payment method, then, Russia said it would consider recognizing bitcoin and other cryptocurrencies in 2018.

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Bitcoin has been the top performing currency every year since 2010, aside from 2014. It has gained 33% so far in 2017.

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Get the latest Bitcoin price here.

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