The price of Bitcoin continued rising to unheard of levels yesterday and today and is now trading at well over $14,000 on some exchanges. It seems that institutional investors are looking at the crypto currency as a safe bet and there is also talk that the price could reach $19,000 by the end of the year. The imminent launch of Bitcoin futures traded by CME is also propelling Bitcoin to new highs. Negative comments from other financial analysts do not appear to have dented the crypto currency’s potential to continue rising.
Bitcoin’s rise however has not translated into any positive movements for the other crypto currencies that were all in the red yesterday. Amongst these was Ripple which continued dropping by at least 10% while Dash retreated to the high 600’s from its previous record levels of well over 800 – an almost 20% drop. Ethereum and Ethereum Classic also made substantial losses, going down by around 10% with Bitcoin Cash also disappointing.
Bitcoin price continues to rapid upward strides, gaining over $1,000 on Wednesday to firmly shatter the $12,000 milestone with a new all-time high of $12,947 (Coinbase).
The world’s first and largest cryptocurrency struck $12,000 earlier and, in doing so, expanded to a market cap of $200 billion for the first time in history. That dollar figure represents an 1100% gain since the turn of the year, when bitcoin began trading at $1,000 on January 1st.
Not content with dizzying heights, bitcoin’s momentum stuck and continued to gather pace as the records keep on tumbling.
At 06:30 (UTC), bitcoin price rose above $12,500 as continued optimism in global markets saw price peak to a new all-time high of $12,947 (Coinbase), a gain of nearly 10% on the day.
Market data on CoinmarketCap, which accounts trading in global markets and factors in price premiums, shows bitcoin price peaking above $13,000.