Bitcoin Prices Retreat Toward $4,100 While Bitcoin Cash Soars

Following a week of thrilling price gains, bitcoin prices have now dropped back towards $4,100. The new bitcoin cash, however, is at a record high.

AccessTimeIconAug 19, 2017 at 9:21 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-4-9

Following a week of thrilling price gains and two all-times highs – $4,483 on August 15, and $4,520 on August 17 – bitcoin prices have now slumped back toward $4,000.

Opening the session at $4,159, price across global exchanges peaked early at $4,406 and have since steadily dropped and at press time had recovered sightly to $4,112. The low for the session was $4,040, according to CoinDesk's Bitcoin Price Index.

Bitcoin's market capitalization now stands at over $67 billion, down from $73 billion two days ago, according to data from CoinMarketCap

While the price news isn't positive for holders of bitcoin, bitcoin cash – the new cryptocurrency created via a fork of the bitcoin blockchain on August 1 – has seen prices rocket to a new record high of $756 soon before press time.

Ethereum, the second largest cryptocurrency after bitcoin, is currently trading sideways with prices currently around $293.

Looking more widely, the combined market cap of all cryptocurrencies has dropped to $141 billion from its all-time high of $144.7 billion on August 17.

BASE jumper 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.