Bitcoin's Price Climbs Above $6,600 to Reach New Market High

Wolfie Zhao
Nov 1, 2017 at 19:18 UTC
NEWS

The price of bitcoin has reached yet another all-time high this week, rising past $6,600 for the first time.

Markets hit an average high of $6,629.00 around 16:34 UTC, data from the CoinDesk Bitcoin price Index (BPI) shows.

The market ramp came hours after CoinDesk's Bitcoin Price Index reported a first-ever high of $6,500 on November 1, pushing the total market capitalization of Bitcoin to over $110 billion.

Recent price advances have increased the share of bitcoin's market capitalization compared to the rest of the cryptocurrency ecosystem. According to the data from CoinMarketCap, bitcoin accounts for nearly 60 percent of the entire $183 billion cryptocurrency market.

As of press time, the price had fallen back below $6,600, trading at around $6,579.

Hot air balloon image via Shutterstock

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

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