$5,800: Bitcoin Price Hits New Record High

The value of a bitcoin reached a new all-time high of $5,856 this morning amid a market that is fast recovering from regulatory news in China.

AccessTimeIconOct 13, 2017 at 8:00 a.m. UTC
Updated Sep 14, 2021 at 1:56 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now
coindesk-bpi-chart-138

The value of a bitcoin reached a new all-time high of $5,856.10 at around 02:45 UTC this morning.

The new price record comes just hours after setting new highs with a strong move beyond $5,000 yesterday, according to CoinDesk's Bitcoin Price Index. At 16:30 UTC Thursday, bitcoin was at $5,363.

Bitcoin started the session today at $5,439, before rising sharply to the new high within 3 hours. Today's low was $5,396.

The price of the cryptocurrency has since dropped to $5,704 at press time – a rise of around 13 percent over the last 24 hours. For the week, bitcoin is up over 30 percent.

Elsewhere in the cryptocurrency markets, ether and litecoin are also seeing positive price moves, according to CoinMarketCap data. Ether is up over 5 percent over the last 24 hours, while litecoin is up almost 14 percent.

The combined market cap for all cryptocurrencies is once again climbing towards the Sept. 1 high of $172.5 billion, peaking this morning at $171.94 billion. Bitcoin's market cap is today $95.5 billion, over 55 percent of the total market.

Taking an overview, it would seem that the market fears caused by China's ICO ban in early Sept., and the voluntary closures of domestic cryptocurrency exchanges that followed, have now almost completely been shrugged off by the market.

Rock climber image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.