Bitcoin Prices Continue To Surge
So, it happened yet again. Bitcoin continues to trade even higher and has now managed to hold itself above $4,000. It has now set new all-time highs of over $4,300. According to the CoinDesk Bitcoin Price Indices, average prices have seen a near five present increase thus far. Ever since the price of bitcoin jumped over the four thousand dollar mark, prices in general have held a levels that is bouncing back and forth around four thousand one hundred dollars. Even for a brief second, bitcoin gains were suppressed when the digital currency grazed the $3,900 level.
This is a record-breaking event for the digital currency. In the opinion of several analysts, this movement could indicate that money is coming into the market that was once being held back. The main culprit for the hold-up? Uncertainty if bitcoin would or if bitcoin would not go through a split of the bitcoin network, which resulted in a new cryptocurrency that is now called bitcoin cash.
This currency, bitcoin cash, was created on the first day of August this year. It is already quickly becoming a new force in the marketplace. Bitcoin cash is the fourth largest cryptocurrency by general market cap valuations. The current value is hovering around the lower $300 level.
What’s more is the complete sum of market capitalization for cryptocurrencies is now reaching unseen levels in price. Previous to all of these events leading up to the record shattering figures, the cryptocurrency market cap total had never reached $138 bilion. Now it has and this is one billion dollars higher than the previous all-time highs set on August 13.