The price of bitcoin closed in on its all-time high
of $4,522.13 today, though it ultimately fell short of surpassing the total, first set on August 18. At press time, the price of bitcoin had hit a high of $4,496, just 1% above opening, only to to fall back to $4,386, a move that marked the next leg in a volatile week for the cryptocurrency. Just this morning, the price surged above the $4,400 mark again after dropping below $3,000 several times over the last seven days. Over the past week, however, the price of bitcoin is up 7%, according to data from the CoinDesk Bitcoin Price Index (BPI), and it's now up 68% month-over-month.
The steady uptick has come at a time when the rising prices of bitcoin and other cryptocurrencies has pushed the collective market capitalization for those networks to new heights as well. Two days ago, the overall market cap climbed above $150 billion for the first time, according to data provider CoinMarketCap, and today the market was hovering near all-time highs. At publication, the total value of all cryptocurrencies was $153 billion.
Bitcoin prices have once more climbed past $4,400 following days of generally sideways movement within the $4,100–$4,200 range. Starting to pick up from around 22:00 UTC yesterday, prices across global exchanges opened the session at $4,362, and had reached a high of $4,420. Prices were again at that level at press time, a rise of 1.33 percent, according to the CoinDesk Bitcoin Price Index.
Those figures put prices around $85 short of the all-time high achieved on August 17, when bitcoin topped $4,500 for the first time ever. Elsewhere in the markets, ethereum is up 3.49 percent for the day at $332.65, according to CoinMarketCap. New cryptocurrency bitcoin cash is down 2 percent, however, with prices at $642.95 at press time. A notable strong showing for privacy-oriented cryptocurrency monero today sees its price up over 14 percent, with one token now worth $98. Reflecting continued positivity in the digital asset markets, the market capitalization across all cryptocurrencies is once again at a record high, at just over $155 billion.
Chuck Reynolds
Marketing Dept
Contributor
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