Bitcoin Price Flies Past All-Time High

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The most popular cryptocurrency and most valuable by market capitalization recently shot above its all time high price, doing so only 24 hours after it had done the same thing. The currency managed to shoot past the $18,000 mark only 24 hours after topping the previous all time high of $12,000.


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The landmark for the currency occurred on the Coinbase exchange, which is widely regarded as the most well known cryptocurrency trading platform. The currency managed to hit highs of over $18,000 on that site.

Another site in the industry, CoinDesk, didn’t see the price shooting above $18,000 until about an hour after the previous site did. This occurs because of the wide range of exchanges lead to different prices, all in the same range.

The gains for the digital currency occurred after crossing the psychological barrier of $18,000 late Tuesday night. Bitcoin now has a market capitalization of over $230 billion, meaning that if it were on the S&P 500, it would be among the top 20 largest stocks.


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This swing in price is not new however, but it does come only a day after the coin reached the high price of $12,000. The currency began in the beginning of the year below a price of $1,000, so the growth now is something that is almost unprecedented for any stock. Some of the gains can be attributed to the Chicago-based company CME, which plans to provide futures for the currency during December.

The company Bitflyer made a statement that “While we launched [in the U.S.] just a week ago, bitFlyer has already seen strong interest from institutions looking to gain exposure to bitcoin. We’re glad to have expanded to the US at this time with so much interest due to the impending Bitcoin futures launches,” said the COO Bartek Ringwelski. The hopes are that these new opportunities can help the growth of the currency as time goes on.


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