Bitcoin Continues Rise – Now At $5,600 As Crypto Bulls Are Running

Investing, News | October 13, 2017 By:

The bitcoin surge continued today, rising more than six percent to yet another all-time high of $5,600 per single coin. That good news lifted the entire market, as green arrows filled the screens and investors poured money into the market.

The price surge on legacy bitcoin (BTC) began several days ago, boosting prices from a temporary valley of $4,800 up to today’s mark, one of the quickest moves upward in the last six months.

The $5,000 level is a significant milestone for bitcoin, as the valuation seems to indicate that those analysts predicting a price by year’s end of anywhere from $6,000 to $10,000 per single coin may not be irrational. The surge also came in the face of a run of bad news, as Russia appears ready to crackdown on cryptocurrency, joining China and potentially South Korea. This amid rumblings over another SegWit2x controversy on the horizon.

Yet bitcoin prices march on. almost in defiance of such sovereign resistance and institutional aversion, moves which are clearly dividing the digital currency world into two camps: the old-school fiat backers, and the new jack digitals.

Bitcoin wasn’t Friday’s only bastion of good news. Ethereum’s ether exploded, rising to $344 after many torporous months in the high $270 to low $300 range. That represented a gain of more than 13 percent and no doubt had to do with the ethereum fork, which has been handled with much less contention than bitcoin’s wars.

Also showing green arrows was Ripple XRP, up more than two percent to $0.262369; Litecoin, which gained more than three percent to $58; Bitcoin Cash, up percentage points to $316; Dash, moving up to $344, a gain of more than four percent; and Monero, up close to 10 percent at $95.

The Block Tribune Volatility Index, which measures price swings in bitcoin, was again unusually high at BTVI 63.9, another day of major boosting compared to the past few weeks.

TODAY’S 24-Hour Bitcoin Prices

Bitcoin market highlights for the 24 hours ending October 13, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $5,916.90000000 on the BitMEX exchange at 10:48 pm yesterday. BitMEX saw $1,517,880,000 of bitcoin change hands.

The lowest price seen was $5,268.19000000 on Bitstamp’s exchange at 3:36 pm yesterday. Bitstamp’s 24 hour volume was $153,993,000.

The average price on the surveyed exchanges, as weighed by volume, was $5,616.77.

Volatility was greater than average, with the BlockTribune Volatility Index coming in at 63.9. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 9 different exchanges. It includes only USD/BTC trades and only on those exchanges that had at least 1% of the total volume of USD/BTC trades during the measurement period.