Bitcoin is getting close to its all-time high

Bitcoin is closing in on record territory.

The cryptocurrency trades up 2.1% at $2,573 a coin as of 7:03 a.m. ET. The early advance has bitcoin on track for its best close ever. It would need to top $2,799 to put in its best print of all-time.

Monday's advance comes absent of any real catalyst. The bid seems to be a continuation of the gains that developed late last week after China's three biggest bitcoin exchanges announced they were allowing customers to begin withdrawals for the first time since February. At the time of the ban on withdrawals, bitcoin was threatening its record high of $1,161 a coin before plunging more than 10% on the news.

Since then, however, bitcoin has seen a steady stream of good news. In early April, Japan announced bitcoin had become alegal payment method. Additionally, Russia's largest online retailer,Ulmart, began accepting bitcoindespite Russia saying it wouldn't consider the use of the cryptocurrency until 2018

There is still one big hurdle to climb. Back in March, the US Securities and Exchange Commission rejected two bitcoin ETFs. It has since taken public comment on its decision regarding the Winklevoss ETF, but has not made an additional ruling.

Bitcoin is up 172% so far in 2017.

RELATED: The creation of U.S. currency inside the U.S. Mint

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The creation of U.S. currency inside the U.S. Mint
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The creation of U.S. currency inside the U.S. Mint
PHILADELPHIA - AUGUST 27: United States Mint in Philadelphia, Pennsylvania on August 27, 2016. (Photo By Raymond Boyd/Getty Images)
The US flag hangs over gold bars in a vault at the United States Mint at West Point in West Point, New York, U.S., on Wednesday, June 5, 2013. Sales of gold and silver coins by the U.S. Mint may rise to a record this year if demand continues to remain at the current pace, according to Richard Peterson, acting director of the mint. Photographer: Scott Eells/Bloomberg via Getty Images
United States one dollar bills are curled and inspected during production at the Bureau of Engraving and Printing in Washington November 14, 2014. REUTERS/Gary Cameron (UNITED STATES - Tags: BUSINESS POLITICS)
United States one dollar bills are inspected under a magnifying glass during production at the Bureau of Engraving and Printing in Washington November 14, 2014. REUTERS/Gary Cameron (UNITED STATES - Tags: BUSINESS POLITICS)
One ounce 24 karat gold proof blanks are seen at the United States West Point Mint facility in West Point, New York June 5, 2013. Demand for U.S. gold coins is still at "unprecedented" high levels almost two months after an historic sell-off in gold released years of pent-up demand from retail investors, the head the U.S. Mint said on Wednesday. REUTERS/Shannon Stapleton (UNITED STATES - Tags: BUSINESS COMMODITIES)
One-ounce silver Liberty coins sit in a tray at the United States Mint at West Point in West Point, New York, U.S., on Wednesday, June 5, 2013. Sales of gold and silver coins by the U.S. Mint may rise to a record this year if demand continues to remain at the current pace, according to Richard Peterson, acting director of the mint. Photographer: Scott Eells/Bloomberg via Getty Images
Pressman Larry Norton inspects a one-ounce silver bullion coin at the United States Mint at West Point in West Point, New York, U.S., on Wednesday, June 5, 2013. Sales of gold and silver coins by the U.S. Mint may rise to a record this year if demand continues to remain at the current pace, according to Richard Peterson, acting director of the mint. Photographer: Scott Eells/Bloomberg via Getty Images
An employee washes one-ounce silver coin blanks at the United States Mint at West Point in West Point, New York, U.S., on Wednesday, June 5, 2013. Sales of gold and silver coins by the U.S. Mint may rise to a record this year if demand continues to remain at the current pace, according to Richard Peterson, acting director of the mint. Photographer: Scott Eells/Bloomberg via Getty Images
Don Daldo inspects a 2010 Sacagawea dollar coin at the United States Mint in Philadelphia, Pennsylvania, U.S., on Thursday, Feb. 25, 2010. The U.S. dollar has risen 2.5 percent versus the euro since Jan. 31, heading for a third monthly gain, its longest stretch since November 2008. Photographer: Andrew Harrer/Bloomberg via Getty Images
A roll of metal for coin production sits at the United States Mint in Philadelphia, Pennsylvania, U.S., on Thursday, Feb. 25, 2010. The U.S. dollar has risen 2.5 percent versus the euro since Jan. 31, heading for a third monthly gain, its longest stretch since November 2008. Photographer: Andrew Harrer/Bloomberg via Getty Images
WASHINGTON - NOVEMBER 19: Twenty-five-dollar rolls of the new presidential one-dollar coin with the image of Abraham Lincoln are displayed for people to exchange after an introduction event at President Lincoln's Cottage at the Soldiers' Home November 19, 2010 in Washington, DC. The United States Mint introduced the coin on the 147th anniversary of Lincoln's Gettysburg Address. (Photo by Chip Somodevilla/Getty Images)
The US flag hangs over gold bars in a vault at the United States Mint at West Point in West Point, New York, U.S., on Wednesday, June 5, 2013. Sales of gold and silver coins by the U.S. Mint may rise to a record this year if demand continues to remain at the current pace, according to Richard Peterson, acting director of the mint. Photographer: Scott Eells/Bloomberg via Getty Images
A sheet of United States one dollar bills is seen on a light table during production at the Bureau of Engraving and Printing in Washington November 14, 2014. REUTERS/Gary Cameron (UNITED STATES - Tags: BUSINESS POLITICS)
One ounce silver coins undergo washing at the cleaning facility at the United States West Point Mint facility in West Point, New York June 5, 2013. The appetite for U.S. American Eagle gold and silver bullion coins is still at unprecedentedly high levels almost two months after a historic sell-off in gold unleashed years of pent-up demand from retail investors, the head of the U.S. Mint said on Wednesday. REUTERS/Shannon Stapleton (UNITED STATES - Tags: BUSINESS COMMODITIES)
Freshly minted pennies sit in a collection bin at the United States Mint in Denver, Colorado, U.S., on Monday, Oct. 19, 2009. The yen and dollar gained versus the euro and extended their first weekly advances in four weeks amid concern the global economic recovery may stall as stimulus measures wind down, reducing demand for riskier assets. Photographer: Matthew Staver/Bloomberg
UNITED STATES - AUGUST 08: A die, left, and hub for a 2007 quarter-dollar coin honoring Wyoming, are arranged for a photograph the at the U.S. Mint in Philadelphia, Pennsylvania on Wednesday, Aug. 8, 2007. (Photo by Stephen Hilger/Bloomberg via Getty Images)
UNITED STATES - AUGUST 08: Robert Wasner, metal foreman and machine operator at the U.S. Mint, visually inspects a 2007 James Madison Presidential one dollar coin after its striking in Philadelphia, Pennsylvania on Wednesday, Aug. 8, 2007. (Photo by Stephen Hilger/Bloomberg via Getty Images)
UNITED STATES - AUGUST 08: Mike Spinosa, a pit driver at the U.S. Mint, transfers one cent blanks before they are struck into pennies in Philadelphia, Pennsylvania on Wednesday, Aug. 8, 2007. The dollar fell to a record low against the euro after Federal Reserve policy makers cut their benchmark interest rate by a quarter-percentage point. (Photo by Stephen Hilger/Bloomberg via Getty Images)
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