Bitcoin
$48,016.76+1.92%
Ethereum
$3,400.88+0.54%
XRP
$1.07+0.39%
Cardano
$2.37+1.18%
Polkadot
$34.73+3.93%
Stellar
$0.318945+0.13%
Dogecoin
$0.240105-0.28%
Chainlink
$28.13+0.91%
Uniswap
$24.12-1.12%
Polygon
$1.35-4.14%
Litecoin
$179.91+0.21%
Bitcoin Cash
$621.88+0.36%
Cosmos
$40.85+21.24%
Algorand
$2.05+6.13%
Wrapped Bitcoin
$48,050.54+1.90%
Filecoin
$83.41-1.55%
The Graph
$0.833083+1.62%
Tron
$0.105068+0.34%
Ethereum Classic
$56.71+0.29%
Aave
$350.36-2.92%
Tezos
$6.42+4.72%
EOS
$5.39+1.84%
NEO
$49.18+1.05%
Monero
$268.38+3.26%
IOTA
$1.62-0.06%
BitTorrent
$0.003938+0.75%
Bitcoin SV
$156.64+0.14%
Waves
$28.73-0.63%
Maker
$2,812.56+1.17%
Dash
$198.14-0.14%
Decred
$142.78-2.32%
Decentraland
$0.817293+0.12%
ICON
$1.89-0.35%
NEM
$0.183060+0.47%
Zcash
$137.61+2.82%
NuCypher
$0.334476+2.48%
Qtum
$12.40-0.35%
Bitcoin Gold
$66.07+0.51%
Yearn Finance
$33,622.50+1.23%
OmiseGO
$8.68+3.74%
Basic Attention Token
$0.749161+0.60%
0x
$1.10+2.14%
Paxos Standard
$1.00+0.97%
Ren
$0.960812+1.81%
Fetch.ai
$0.823048-2.84%
Bancor
$4.04+0.38%
Siacoin
$0.018968+3.93%
Band Protocol
$9.21+1.42%
Kava.io
$6.25+2.05%
Nano
$5.42+1.01%
Loopring
$0.453767-0.41%
Storj
$1.38+0.41%
Civic
$0.532312-1.94%
Lisk
$3.56+0.49%
Numeraire
$46.46+8.03%
Orchid
$0.403063+10.55%
PAX Gold
$1,768.33+0.17%
Augur
$26.40+1.68%
Aragon
$6.11+5.77%
Enzyme
$117.48+4.49%
district0x
$0.177300+3.60%
Kyber Network
$1.80-0.88%
SingularDTV
$0.001489-3.38%
Tether
$1.00-0.01%
USD Coin
$0.999992-0.03%
Dai
$1.00-0.03%

Bitcoin's Price is Back Within $100 of its 2017 High

The price of bitcoin continued recent gains in an early morning session today, rising nearly 3% on warming sentiment.

Feb 7, 2017 at 1:30 p.m. UTC
Updated Sep 14, 2021 at 1:58 p.m. UTC

coindesk-bpi-chart-1

The price of bitcoin keeps creeping higher.

Bolstered by buoyed sentiment (and the increasing unlikelihood that China’s central bank will again step in and correct the market), bitcoin breached $1,050 at 13:00 UTC amid a near-3% increase for the day so far.

The total marked the highest point observed on the CoinDesk Bitcoin Price Index (BPI) since 6th January, just a day after the price dropped nearly $200 within hours of hovering near all-time highs set in late 2013 (a move that was widely attributed to the widespread use of market leverage).

The price movements come amid an uptick in volume that followed a substantial decline in volume at major exchanges.

Data from Bitcoinity shows the market is up slightly since three major China-based exchanges to begin imposing fees on both sides of bitcoin trades, a market change that is still being widely felt.

screen-shot-2017-02-07-at-8-26-56-am

Yet, there is still some tepid sentiment in the market, as put forward by China-based OTC trader Zhou Shouji.

He maintains that "no one knows" if further actions will be taken, though he indicated some may be preparing for this scenario.

Shouji suggested China-based traders see the increasing price as a potential red flag for domestic regulators, even while others positioned it as a more natural recovery.

Image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...