[2017-09-02] $5,000: Bitcoin Price Hits Historic New Milestone

[gokayc]

Bitcoin's price rose above $5,000 for the first time today.

The CoinDesk Bitcoin Price Index (BPI) hit a high of $5,013.91 at 02:25 UTC, market data shows, staying above that level over the next 10 minutes of trading. The price then dipped below the $5,000 mark, falling over the next hour to a low of $4,867.18 at 03:28 UTC.

Market data points to Chinese bitcoin exchange OKCoin leading the spike, with that market hitting a high of $5,149.



Markets then climbed back above $4,900, reaching $4,916.39, BPI data shows, before sliding again. As of press time, bitcoin's price is trading at $4,877.36, according to the BPI.

A week ago, markets were at ranging between $4,340 and $4,370, and on Tuesday the weekly low was recorded at $4,221.44. Yet in the past few days, markets saw significant surges, shooting past the $4,700 and $4,800 levels to hit new all-time highs.

https://www.coindesk.com/5000-bitcoin-price-hits-historic-new-milestone/?utm_content=bufferb8a85&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

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[buwaytress]

What a time to be involved in Bitcoin. I've noticed for several weeks now that it happens overnight either on Friday or Sunday when I'm asleep. As I'm in GMT+2 timezone, this means it happens during the far east Asian trading hours, so demand over there really is fueling this super nitro prices. What's incredible is that this is also usually the break for other markets such as forex. Crypto trading just doesn't know when to rest, does it?

Mental note to self: make it a point now to sell my coins on weekend midnights!

[Kemarit]

What a time to be involved in Bitcoin. I've noticed for several weeks now that it happens overnight either on Friday or Sunday when I'm asleep. As I'm in GMT+2 timezone, this means it happens during the far east Asian trading hours, so demand over there really is fueling this super nitro prices. What's incredible is that this is also usually the break for other markets such as forex. Crypto trading just doesn't know when to rest, does it?

Mental note to self: make it a point now to sell my coins on weekend midnights!

Exactly, it usually happens in Japan China and South Koreans time zones where there is a huge amount of trading volumes happening. I'm lucky I'm in that time zone . So I was able to monitor the surge is price and its truly amazing that bitcoin can reach another milestone in its young history.

Well a minor correction had happened now and its down to $4600-$4700. So I'm assuming that the new mental barrier is $5000. Similar to what we experienced at $3000. It briefly touches that price, then traders began to sell. No doubt that you can't blame them for taking the profits, but I still optimistic that we can touch and break the $5000 wall anytime soon.

[1Referee]

I had a few open sell orders slightly below and over the $5000 level, but they haven't been filled. That's how things go when you're trading manually, and you are sleeping at that moment of the day. It will be interesting to see how the price moves from here, because none of the USD exchanges have touched the $5000 level yet. It shows that the Asian market is just pushing the market, where the Western market isn't really keeping up, or is a bit more conservative. After all, $5000 isn't that much of an interesting target for the Asian market, where I even doubt they care about it for even a second - their target and psychological point is the 30,000CNY level, which they have broken through a few days ago already.

[Slow death]

...

over $5000 is being very difficult, I suppose that is due to the problems that we have to face in November, I speak of segwit2x vs bitcoin core

The fights have intensified and this generated many uncertainties, just yesterday I read many comments from pessimistic people. for some pessimistic people bitcoin would reach  $5000 and will fall to  $1000.

[iqlimasyadiqa]

What a time to be involved in Bitcoin. I've noticed for several weeks now that it happens overnight either on Friday or Sunday when I'm asleep. As I'm in GMT+2 timezone, this means it happens during the far east Asian trading hours, so demand over there really is fueling this super nitro prices. What's incredible is that this is also usually the break for other markets such as forex. Crypto trading just doesn't know when to rest, does it?

Mental note to self: make it a point now to sell my coins on weekend midnights!

Exactly, it usually happens in Japan China and South Koreans time zones where there is a huge amount of trading volumes happening. I'm lucky I'm in that time zone . So I was able to monitor the surge is price and its truly amazing that bitcoin can reach another milestone in its young history.

Well a minor correction had happened now and its down to $4600-$4700. So I'm assuming that the new mental barrier is $5000. Similar to what we experienced at $3000. It briefly touches that price, then traders began to sell. No doubt that you can't blame them for taking the profits, but I still optimistic that we can touch and break the $5000 wall anytime soon.

some waves of bitcoin price movements do occur sometimes in certain zones. currently japan, china and korea became one of the pioneers of the use of very good bitcoin. if the bitcoin market in japan or korea has a good trend then this will affect the world market, sometimes this zone can be used as benchmark how price can move. but back again to the superior bitcoin, currently bitcoin prices continue to rise and show good graphics. although the price has declined but this will not affect the image of many people to bitcoin. bitcoin will be increasingly in demand and we will see the price go through 5000 $ in a few weeks and even a few days ahead.

[Rahar02]

It feels just like another normal day in bitcoin world for me, something that has been predicted few months, weeks, days ago.
For daily traders or whoever aim $5000 to sell, it's very special and obviously bitcoin has reached another ATH, another milestone.
But, the good news is when most wallet platforms will enable segwit addresses, it's been annoying me over a week since bitcoin segwit has been activated. I've sent bitcoin and pay low fees using blockchain wallet but electrum wallet still calm down without any new update. I'm wondering when the new update will be released by electrum developers, because current fees for electrum like BTC0.003 per transaction, exorbitant fees for everyone who use electrum wallet.

[Samarkand]

... I'm wondering when the new update will be released by electrum developers, because current fees for electrum like BTC0.003 per transaction, exorbitant fees for everyone who use electrum wallet.

You can set a custom fee in Electrum and get away with much lower transaction fees, if you are fine with waiting 12-48 hours for the first confirmation.
It is absolutely unnecessary to spend 0.003 BTC as transaction fee, unless you make a transaction with a lot of inputs.

If you have only 1-2 inputs to your transaction you could get the transaction confirmed with even a fraction of your proposed fee size.
I sent a transaction a few days ago with a 0.00005 BTC fee and it confirmed within a day!

[Zoltan450]

5000 is good. But can the bitcoin price exceed 10k by the end of this year? There were many forecasts with a figure of 14,000. With such a trend, as now, I do not exclude that it is possible.

[eckmar]

5000 is good. But can the bitcoin price exceed 10k by the end of this year? There were many forecasts with a figure of 14,000. With such a trend, as now, I do not exclude that it is possible.

Don't think it's possible for price to double until the end of the year, but still many things depend on what happens in november and how will all that go

[SvenBomvolen]

I supposed that in China the price gone above 5000$, but on the exchanger that I use it didn't. That's unbelievable how fast the price moved from 2000$ to 5000$. With such temps we will see new records very soon!

[Rahar02]

... I'm wondering when the new update will be released by electrum developers, because current fees for electrum like BTC0.003 per transaction, exorbitant fees for everyone who use electrum wallet.

You can set a custom fee in Electrum and get away with much lower transaction fees, if you are fine with waiting 12-48 hours for the first confirmation.
It is absolutely unnecessary to spend 0.003 BTC as transaction fee, unless you make a transaction with a lot of inputs.

If you have only 1-2 inputs to your transaction you could get the transaction confirmed with even a fraction of your proposed fee size.
I sent a transaction a few days ago with a 0.00005 BTC fee and it confirmed within a day!

Well, thank you. I've been waiting for a week and hold myself to transact bitcoin using electrum wallet.
Very funny I didn't try to send and set custom fees, which I've set it when using blockchain wallet to send bitcoin
Thanks for point out about this, will try it later, my last transaction fee around BTC0.00004676 but  BTC0.0001 still convenient for me.

[boost523]

Bitcoin is the true cyber gold, while others can only dream to surpass it. Bitcoin will reach $7000-8000 by the year end after clearing the event in new November.

[Taki]

Bitcoin doesn't stop to surprise! Honestly I didn't expect that the price will go over 3000$ this year. Maybe the November'a fork will play the same role to bitcoin as on the 1st of August and we will see even higher price like 6000-7000$ per BTC. My decidion is HODL!

[DoctorStrange]

Does anyone doubt that bitcoin will cost more than 10.000?

[greeklogos]

5000 is good. But can the bitcoin price exceed 10k by the end of this year? There were many forecasts with a figure of 14,000. With such a trend, as now, I do not exclude that it is possible.

I am agree with those who say 6000-7000$ is pretty possible for bitcoin by the end of the year. 10k$ sounds impossible to me, but 5000$ also seemed impossible to me for bitcoin but it happened.

[veleten]

Does anyone doubt that bitcoin will cost more than 10.000?

depends when
it will,but not this year,maybe later on,after November we see it stabilise over 5k mark,maybe even attack 6k at some point
but 300% increase in one year is too much of a bubble to sustain
I would prefer a very steady rise,to sudden peaks like we have seen just now

[DoctorStrange]

Does anyone doubt that bitcoin will cost more than 10.000?

depends when
it will,but not this year,maybe later on,after November we see it stabilise over 5k mark,maybe even attack 6k at some point
but 300% increase in one year is too much of a bubble to sustain
I would prefer a very steady rise,to sudden peaks like we have seen just now

I think it'll happen in the spring of next year