[2017-11-16] Newsflash: Bitcoin Price Returns Above $7,500, Hits 7-Day High

[cybersofts]

Bitcoin Price Returns Above $7,500, Hits 7-Day High

It’s been a bullish few days for the crypto market cap as bitcoin price broke above $7,500 to hit a fresh 7-day high.

It has been a week of extreme volatility for the world’s most prominent cryptocurrency. Bitcoin prices declined to $5,500 during the weekend after the cancellation of the Segwit2x fork that led to investors partaking in a massive sell-off that coincided with tremendous gains for Bitcoin Cash (BCH). Come Monday, bitcoin price was trading back above $6,500 following an inverse Bitcoin Cash sell-off that saw the alternative cryptocurrency drop by 22$ in a single day. Bitcoin price soared above $7,000 on Wednesday, leading the charge for a bullish crypto-market that hit a record all-time high above $217 billion.

That continued momentum has stuck, as bitcoin prices climbed back above $7,500 during Thursday’s trading, reaching a new 7-day high of $7,558 (Bitfinex). At the time of publishing, bitcoin price is trading to the dollar at $7,450.


10-day Bitfinex bitcoin price chart. Courtesy: BitcoinWisdom

Altogether, bitcoin price has gained nearly 13% since the turn of Wednesday’s trading and is up 39% from its lowest point on Sunday.


Source: https://www.cryptocoinsnews.com/newsflash-bitcoin-price-returns-7500-hits-7-day-high/

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[limek]

Yes, now hit All-time-high above $8000. To the moon...

[Rahar02]

It's just time matter obviously, bitcoin always reach new ATH after correction occurs. Rules number one; stick to bitcoin, don't sell all of yours. Just noticed bitcoin has reached $7967 based on coinmarketcap, probably $8000 soon.
Meanwhile BCH plunged to $901, suddenly rise to $1990 but easily drop back, seems many people whoever bought at the peak regret it.

[JGoRed]

This is great. I am sure that Bitcoin will probably correct itself a bit (especially as people cash out and buy alts), but we are defiantly breaking the glass ceiling.

Let's just hope it continues to go up.

[Nathan047]

This is a great thing to see, although I can't really say that I'm all that surprised. But just to put it in perspective: A year ago Bitcoin was at 700$, and a few months ago it was at 2,000$. I'm just hoping it keeps rising.

[hatshepsut93]

I've noticed that sometimes there's a pattern when Bitcoin tends to rapidly increase in price when it overcomes some obstacle - recently it was August 1st with potential split due to UASF and BCH hardfork, then it was Chinese ban on exchanges, and a huge pump for BCH spiced with massive shill raiding. So, instead of damaging Bitcoin all those negative events actually strengthen it - they have showed us on practice how resilient Bitcoin is, so people are less scared that it can crash because of some fork or other attack.

[darkangel11]

It's already old news. Bitcoin has broken through to reach another ATH, this time not limited to 7 days
Ladies and Gentlemen, we got ourselves 8 thousand dollars! Time to open a bottle and drink to that. I can see Roger Ver crying just now. BCC is the new king... NOT!

I've noticed that sometimes there's a pattern when Bitcoin tends to rapidly increase in price when it overcomes some obstacle

It's like a spring that needs to contract before it expands and hits all the haters in the chin.