[2017-10-20] Quiet Surge: Bitcoin Price Sets New High Above $6,000

[GetBABB]

The price of bitcoin has hit a new all-time high, crossing the $6,000 line for the first time.

Markets climbed as high as $6,003.81, according to CoinDesk's Bitcoin Price Index (BPI). This figure surpasses the previous all-time high set on October 13, when the price rose to $5,856.10.

BPI data shows that the price climbed more than $200 in the past hour, with markets showing an average price of $5,697 prior to the ramp. At press time, the price of bitcoin is trading at around $5,968.

Figures from CoinMarketCap.com show that some exchanges are currently reporting a price above $6,000, including Bitfinex and Bithumb, the world's two largest exchanges by volume.

Today's move pushes the network's collective market capitalization closer to the $100 billion line. At press time, according to the BPI, bitcoin's market cap is roughly $99.5 billion.

https://www.coindesk.com/quiet-surge-bitcoin-price-sets-new-high-just-6000/

[richardsNY]

It's not really a surprise to see the price hit the $6000 level since it is a due happening, but I didn't expected it to be today, lol. Interesting is the high volume that came with this sudden increase. It looks like one or more larger players have set their target on increasing their positions before the price goes up even further. Some people believe this increase is happening because of the fork that is coming closer and closer this month, but I don't think it is because of this. BG is far too insignificant to trigger this level of short term growth.

[iamTom123]

This has been an expected climb for Bitcoin before maybe making some corrections especially after the scheduled hard fork this October 25. One of the reasons given is that the demand for Bitcoin surged due to the coming birth of BitcoinGold...well you need to have Bitcoin inorder to get BitcoinGold. Now, after the fork there can be some minor corrections before again as we are heading into the holiday season. The significance here is that finally Bitcoin has officially broken the $6,000 level so that it would be easier for our coin to get back into it anytime it wished to. Now, am starting to really enjoy my Bitcoin adventure and I am always excited to see the value getting bigger and bigger. I am not anymore complaining of the fork as I would also be receiving my free share of the new altcoin.