Bitcoin Prices Break the $4,000 Barrier for the First Time

The continuing surge in the price of bitcoin has seen it climb to over $4,000 for the first time since the cryptocurrency was created in January 2009.

According to the CoinDesk Bitcoin Price Index, the average price of bitcoin across global exchanges today reached a height of $4,225 at 9:07 a.m. UTC, having opened at $3,917. At press time, the price had dropped slightly to $4,162.

The new record follows days in which bitcoin has been setting consecutive all-time highs following a relatively static period when prices sat at around $2,700. That lull indicated a cautious market the approach to the bitcoin fork that created a new cryptocurrency, bitcoin cash, on August 1.

Fears over the split, that some feared would lead to instability, now seem to be allayed, as indicated by the positive price moves since.

The total value of all cryptocurrencies has also set yet another new all-time high, with the combined market capitalization now sitting at over $137 billion, according to CoinMarketCap. That figure is $11 billion more than the previous high noted by CoinDesk just two days ago, when all crypto assets had a value of $126 billion.

While bitcoin has seen an over 10 percent increase in market cap in the past 24 hours, some other cryptocurrencies have seen increases of over 20 percent, including IOTA and neo, and others have even seen increases of around 30 percent, including decent, nexus and binance coin.

Not all cryptocurrencies have faired so well, though, with ethereum showing -4 percent for the last 24 hours, Ripple, -5.5 percent, and bitcoin cash, -8.2.

In the basket image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].

Comments

comments

Filed in: Bitcoin Buzz Tags: ,

You might like:

South Korea Legitimizes Blockchain Industry With Major New Classification Standards South Korea Legitimizes Blockchain Industry With Major New Classification Standards
The History of Tezos: The Infamous ICO Trying to Rebound Amidst Lawsuits and Disputes The History of Tezos: The Infamous ICO Trying to Rebound Amidst Lawsuits and Disputes
BIS Chief Bashes Cryptocurrency Again in Scathing Review of Its ‘Failure’ as Money BIS Chief Bashes Cryptocurrency Again in Scathing Review of Its ‘Failure’ as Money
Former Jefferies Asia CEO to Lead $1 Billion EOS VC Arm Former Jefferies Asia CEO to Lead $1 Billion EOS VC Arm
IBM Signs $740 Million Deal With Australian Gov’t to Use Blockchain for Data Security IBM Signs $740 Million Deal With Australian Gov’t to Use Blockchain for Data Security
Deadline for Implementing Indian Central Bank’s Ban on Crypto Dealings Ends Deadline for Implementing Indian Central Bank’s Ban on Crypto Dealings Ends
Collectable Crypto Game Introduces Personalized Artist-Designed Avatars Collectable Crypto Game Introduces Personalized Artist-Designed Avatars
Immutability in Doubt: Do We Need to Protect Blockchain Data? Immutability in Doubt: Do We Need to Protect Blockchain Data?
© 2018 Virtual Mining Bitcoin News. All rights reserved. XHTML / CSS Valid.