Bitcoin has continued to trade at over $4,000 since reaching a record level of $4,225 yesterday, and has now set a new all-time high of over $4,300.
According to the CoinDesk Bitcoin Price Index, average prices across exchanges today opened at $4,111 and have seen a 4.97 percent increase so far. At press time, a bitcoin was worth $4,315
Notably, since the price passed the $4,000-mark for the first time yesterday, prices have maintained a level fluctuating at around $4,100, only dipping to below that level once when bitcoin was trading briefly for around $3,900. However, prices soon returned to above the $4,000 point.
The record-breaking price levels would seem to indicate money coming into the market that had been held back pending the uncertain outcome of a split of the bitcoin network that resulted in a new cryptocurrency called bitcoin cash.
Bitcoin cash, which was created on August 1, already stands as the fourth largest cryptocurrency by market capitalization and currently has a value of around $306, according to CoinMarketCap.
The total market cap of all cryptocurrencies has again reached previously unseen levels, and has now reached $138 billion – a billion higher than yesterday's all-time high.
Climbing image via Shutterstock
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 offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.