Do You Know What the Price Of Bitcoin Is?
On Wednesday, the average price of bitcoin across global exchanges is trending higher and has hiked above $100. At press time, bitcoin prices were hovering near $4,265, a number that was up almost $130 from the day’s open of $4,137. The increase, while slim in comparison to the crypto currency’s 300% increase in 2017, however for bitcoin, this comes during a period in which bitcoin currency has had troubles accumulating support above $4,000.
Over the last week, bitcoin has dropped under $4,000 several times, most recently during August 22’s trading session. As a whole, bitcoin looks to be trading sideways after hiking 55% in the last four weeks and almost 90% over the last 90 days, according to a data provider CoinMarketCap.
It also remains to be seen whether the market lull is solely a pause in the rally, or a wider indication of potential exhaustion in the promising asset class.
Indicating the former is that the advance also agreed with a wider movement of capital into alternative cryptocurrencies, with the value of the entire asset class hitting an all-time high of more than $150 billion earlier on Wednesday.