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Markets

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

Bitcoin's price has hit yet another all-time high, passing above the $6,600 level.

By Wolfie Zhao
AccessTimeIconNov 1, 2017 at 7:18 p.m. UTC
Updated Sep 14, 2021 at 1:56 p.m. UTC
PriceBalloon

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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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.