Bitcoin Price Hits $6,054, Factors Behind New-All Time High

Bitcoin Price Hits $6,054, Factors Behind New-All Time High

Earlier today, on October 20, the Bitcoin price achieved a new all-time high at $6,054, for the third time in the past 20 days. Within the past 24 hours, the price of Bitcoin has surged from $5,600 to $6,054, by over $400 in a single day.

Wall Street Analyst Gary Shilling: I Don’t Understand Bitcoin

Gary Shilling, a prominent and highly regarded Wall Street financial analyst, recently said in an interview that he doesn’t understand Bitcoin and do not intend to invest in “things that are not transparent.” While his statement was factually inaccurate, as Bitcoin is the most transparent financial network in existence due to its decentralized blockchain network, it is optimistic to see investors acknowledge their lack of knowledge in Bitcoin, rather than simply calling out Bitcoin as a “bubble” or a “fraud,” as figures such as JPMorgan CEO Jamie Dimon did in the past.
$6,054: Bitcoin Price Soars to All-Time High

$6,054: Bitcoin Price Soars to All-Time High

The bitcoin price soared to a new all-time high of $6,054 on Friday, punching through the $6,000 barrier for the first time. Bitcoin Price Storms Past $6,000 After a week of volatility, the bitcoin price had appeared to settle down to a stable level on Friday. That, however, was just the calm before the storm. After consolidating support at the $5,650 mark, the bitcoin price began to soar, crossing the $5,700, $5,800, and $5,900 checkpoints in quick succession At 15:00 UTC, Bitfinex experienced an explosion in trading volume, carrying the bitcoin price over the $6,000 to set a new all-time high of $6,054.
Ethereum, Bitcoin Prices Stabilize After Day of Sideways Trading

Ethereum, Bitcoin Prices Stabilize After Day of Sideways Trading

Traders restored a bit of stability to the crypto markets on Friday following a day of sideways trading. The bitcoin price and ethereum price each declined a bit less than 1% for the day, and most major altcoins experienced similar minor declines. However, no top 10 cryptocurrency moved more than 3%, providing the market with one of its calmer day-over-day performances in recent memory. Chart from CoinMarketCap Altogether, the cryptocurrency market cap shed about $1.
After Dropping to $5120, Bitcoin Price Surges Above $5,650

After Dropping to $5120, Bitcoin Price Surges Above $5,650

Earlier today, on October 20, the Bitcoin price slightly declined from $5,720 to $5,650. But, within the past 48 hours, the Bitcoin price has surged significantly, as the market gained confidence over Bitcoin’s mid-term rally. On October 18, the Bitcoin price plunged from above $5,500 to $5,120, as the entire cryptocurrency market endured a major correction.
Bitcoin Price Shakes Off Wednesday Downturn; CFTC Primer Not a Factor

Bitcoin Price Shakes Off Wednesday Downturn; CFTC Primer Not a Factor

The bitcoin price stormed back to $5,700 on Thursday, shaking off the Wednesday downturn that pulled it as low as $5,114. Bitcoin Price Recovers from Wednesday Dip Many investors were surprised when the bitcoin price held above $5,500 after last week’s dramatic rally, which saw bitcoin surge by more than $1,200 in a four-day period. Some analysts even raised their year-end price targets in response to the record-setting advance.
Bitcoin Price Bounces Back, Crypto Markets Recover to $170 Billion

Bitcoin Price Bounces Back, Crypto Markets Recover to $170 Billion

The crypto markets bounced back on Thursday following a significant contraction the previous day. The bitcoin price led the charge, rising more than 6% to put the $5,700 barrier within its sights, while the ethereum price ticked up 3% to $309. Unfortunately, the recovery was not comprehensive, and some cryptocurrencies — including ripple — continued to decline. Chart from CoinMarketCap The downturn forced the total cryptocurrency market cap as far down as $156.
Ethereum, Bitcoin Prices Plunge in Apparent Market Sell-Off

Ethereum, Bitcoin Prices Plunge in Apparent Market Sell-Off

The crypto markets took a bearish turn on Wednesday, shedding nearly $15 billion as traders initiated an apparent market sell-off. The bitcoin price bore the brunt of the blow, causing it to fall by almost $500 in the past day alone, but every top 5 cryptocurrency fell by more than 7%, and market caps up and down the charts began to evaporate. Chart from CoinMarketCap The combined value of all cryptocurrencies entered the day at just under $175 billion, and many investors believed it would continue to ride last week’s market rally across the $180 billion threshold and set a new all-time high.

Stock Market Bear Sets $1 Million Bitcoin Price Target

Hedge fund manager Mark Yusko forecasts that the bitcoin price has the potential to reach $1 million over the long term as the network effect leads increasing numbers of investors to use it as a store of value in place of traditional commodities such as precious metals. Yusko, who founded Morgan Creek Capital Management and serves as the firm’s chief investment officer, is noted for his bearish outlook on the stock market.
Ethereum Price Down 8%, Ripple Falls by 12%, Bitcoin Loses 6%: Cryptocurrencies Suffer Correction

Ethereum Price Down 8%, Ripple Falls by 12%, Bitcoin Loses 6%: Cryptocurrencies Suffer Correction

Earlier today, on October 18, the cryptocurrency market endured a major correction, as the price of Ethereum fell by 10 percent and Bitcoin declined by over 5 percent. Within the past 24 hours, the price of Ether, the native cryptocurrency of Ethereum, fell from $340 to $299, while the price of Bitcoin fell from $5,550 to $5,380.
Analysis: Bitcoin, Ethereum, and Litecoin

Analysis: Bitcoin, Ethereum, and Litecoin

This following analysis is provided for information and educational purposes only and should not be considered to be investment advice or recommendation. Ben Bernanke is the latest central banker to voice his concern on bitcoin. His pretext is the same, evading regulation and government intervention.

Bitcoin and Ethereum Price Takes Minor Correction Despite Market Optimism

On October 17, the vast majority of cryptocurrencies in the market including Bitcoin and Ethereum have recorded slight corrections in price, as the price of Bitcoin fell below $5,600 and Ethereum price dropped to $320. Price Drop of Ethereum, Despite Optimism Surrounding Hard Fork Yesterday, on October 16, Cryptocoinsnews reported that the market has responded relatively well to the Ethereum hard fork, as the price of Ether, Ethereum’s native cryptocurrency, increased to over $340.
Bitcoin Price Cracks $5,700 but Ethereum Wanes after Byzantium

Bitcoin Price Cracks $5,700 but Ethereum Wanes after Byzantium

The crypto markets have exhibited mixed performance during the early portion of the week. The bitcoin price continued to hover near its all-time high on Tuesday, climbing just enough to crack the $5,700 barrier. The ethereum price, meanwhile, lost ground following the successful deployment of its much-anticipated Byzantium hard fork. Chart from CoinMarketCap Altogether, the markets rose about $1.

Chinese Traders Continue Investments in Bitcoin With a Huge Premium

Despite the Chinese government’s crackdown on initial coin offerings (ICOs) and cryptocurrency exchanges, local traders have invested in Bitcoin with a huge premium during its recent rally. As Cryptocoinsnews previously reported, the Bitcoin price achieved a new all-time high at $5,920 last week, moving closer to the $6,000 region. Analysts including billionaire hedge fund investor Mike Novogratz predicted the Bitcoin price to surge even further in the mid-term, as an increasing number of institutional investors engage in cryptocurrency and Bitcoin trading.
Ethereum, Bitcoin Prices Lead Market Recovery after Sunday Pullback

Ethereum, Bitcoin Prices Lead Market Recovery after Sunday Pullback

The crypto markets regained a bit of the ground they lost during Sunday’s pullback, fueled by positive movement from the bitcoin price and ethereum price. The ripple price also achieved a respectable increase, leading the wider altcoin markets to a moderate advance. Chart from CoinMarketCap Weekend trading had reduced the total cryptocurrency market cap below $170 billion, but the markets began to climb leading into Monday morning and had surpassed $175 billion at the time of writing.

Bitcoin Price Boom Built on Sound Fundamentals, Observers Tell Naysayers

When bitcoin price reaches new heights, the critics raise their voices. As the price approached the $6,000 benchmark Friday, it didn’t take long for critics to warn of impending doom. Wall Street banker Jamie Dimon, chief executive of JP Morgan Chase, unleashed another one of his diatribes against bitcoin Friday in response to a CNBC moderator question at an event hosted by the Institute of International Finance, reiterating that he believes blockchain technology is useful but that non-fiat cryptocurrency “has no value.
Investor Predicts Bitcoin Price to Hit $27k in Four Months

Investor Predicts Bitcoin Price to Hit $27k in Four Months

A bitcoin investor and podcast host has predicted that the price of bitcoin will increase to over $27,000 in four months time. Trace Mayer, who proclaims to be an entrepreneur, investor, journalist, monetary scientist and ardent defender on his website, took to social media to make his prediction. According to him, by February 2018, bitcoin’s value will be worth $27,395. Host of The Bitcoin Knowledge Podcast, Mayer is basing his prediction on a 200 day moving average.
Woo’s Law: Bitcoin Users Double Every 12 Months; Major Factor For Long-Term Price Surge?

Woo’s Law: Bitcoin Users Double Every 12 Months; Major Factor For Long-Term Price Surge?

Willy Woo, a highly regarded Bitcoin and cryptocurrency researcher, recently revealed that the number of Bitcoin users approximately doubles every 12 months. Utilizing Google Trends as one of the main indicators of Bitcoin user growth, Woo formed the following infographic to demonstrate the exponential growth rate of the Bitcoin userbase.
$175 Billion: Ethereum, Bitcoin Prices Lead Crypto Market Rally

$175 Billion: Ethereum, Bitcoin Prices Lead Crypto Market Rally

The bitcoin price and ethereum price continued to climb on Saturday, ticking up just enough to pass significant thresholds. The wider markets made moderate gains as well, enabling the total cryptocurrency market cap to rise above $175 billion for the first time since the beginning of September. Chart from CoinMarketCap On Friday, the combined value of all cryptocurrencies crossed the $170 billion checkpoint, highlighting the degree of its recovery since last month’s pullback.

$95 Billion: Bitcoin is Bigger than Goldman Sachs

On October 13, the market cap of Bitcoin surpassed that of Goldman Sachs after a meteoric rise in the past three days. With a market cap of $95 billion, Bitcoin surpassed Goldman Sachs by more than $3 billion. Goldman Sachs, the second largest investment bank in the world, has sustained a market cap of $92 billion throughout the past 12 months but has struggled to demonstrate an increase in growth in terms of market cap.
Bitcoin Price Targets $6,000 as Crypto Market Cap Crosses $170 Billion

Bitcoin Price Targets $6,000 as Crypto Market Cap Crosses $170 Billion

The bitcoin price continued its meteoric rise on Friday, climbing as high as $5,840 to make $6,000 seem like a near-term possibility. The wider crypto markets experienced a general upswing as well, with the ethereum price posting a 7% to gain to rise above $325 for the first time in more than a month. Chart from CoinMarketCap Altogether, the combined value of all cryptocurrencies rose by another $10 billion for the day.
Bitcoin Price Briefly Hits $5,920 Before Minor Correction; Factors For Another Rally

Bitcoin Price Briefly Hits $5,920 Before Minor Correction; Factors For Another Rally

Earlier today, on October 13, the Bitcoin price achieved a new all-time high for the third time in the past two days, briefly surging to $5,920. But, subsequent to achieving the new all-time high, the Bitcoin price experienced a minor correction, likely caused by the sudden surge in the price of Bitcoin in the past two days, from $4,500 to $5,920.
Analysis: Bitcoin, Ethereum, and Litecoin

Analysis: Bitcoin, Ethereum, and Litecoin

This following analysis is provided for information and educational purposes only and should not be considered to be investment advice or recommendation. Bitcoin is leading the charge with a new lifetime high above $5000. The altcoins, however, are lagging behind, as bitcoin’s dominance increases to 53.2%, with a market capitalization of $85 billion, according to coinmarketcap.
$5,419: Bitcoin Price Goes Meteoric After Hitting All-Time High

$5,419: Bitcoin Price Goes Meteoric After Hitting All-Time High

The bitcoin price went meteoric on Thursday, surging past $5,400 to shatter the all-time high it set at the beginning of September. Bitcoin Price Goes Meteoric Bitcoin’s October rally continued today, enabling the flagship cryptocurrency to finally burst through the $5,000 checkpoint for the first time since briefly touching that mark on September 2. The last time bitcoin hit that mark, traders initiated a minor sell-off that evolved into a major downturn when China began prohibiting initial coin offerings (ICOs) and cryptocurrency trading just days later.
Bitcoin Price Blitzes to New ATH at $5,419: 3 Major Factors of Growth

Bitcoin Price Blitzes to New ATH at $5,419: 3 Major Factors of Growth

Earlier today, on October 12, CCN reported that the Bitcoin price had achieved a new all-time high at $5,150. Within the past few hours, the Bitcoin price has increased from $4,150 to $5,419, establishing a new all-time high again. Since October 11, in a 24-hour span, the Bitcoin price surged from $4,750 to $5,384, recording a staggering 13.