Bitcoin Soars To $5,400 Per Single Coin, An All-Time High

Investing, News | October 12, 2017 By:

Bitcoin made its long-awaited leap above the $5,000 per single coin price level today, rising as high as $5,400 on at least one exchange in early day trading. After flirting with the $5,000 mark for several days, traders went all-in and boosted legacy bitcoin (BTC) up more than eight percent at mid-day.

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 $6000 to $10,000 per single coin may not be irrational. Today’s surge 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.

Elsewhere in the markets, ethereum’s ether inched up to $303 per single coin, while Litecoin was up a robust 11 percent to $56.

Taking the down elevator in today’s market was Ripple XRP, which sat at $0.254414, down more than three percent; Dash dropping more than two percent to $293; Bitcoin Cash down percentage points to $312; and Monero also trickling down percentage points to $87.

The Block Tribune Volatility Index, which measures price swings in bitcoin, was unusually high at BTVI 68.9, a major boost from the past few weeks.

Is this the start of another incredible run for bitcoin?  It was only a short time ago that it plunged to just below $3,000 after negative news from China and JPMorgan Chase’s Jamie Dimon labeling it a “fraud.”  Dimon today pledged during an analyst call to say no more. That’s one positive.

TODAY’S 24-Hour Bitcoin Prices

Bitcoin market highlights for the 24 hours ending October 12, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $5,422.44000000 on the Bittrex exchange at 12:42 pm today. Bittrex saw $44,179,900 of bitcoin change hands.

The lowest price seen was $4,789.92000000 on Gemini’s exchange at 6:06 pm yesterday. Gemini’s 24 hour volume was $56,474,800.

The average price on the surveyed exchanges, as weighed by volume, was $5,076.23.

Volatility was unusually high, with the BlockTribune Volatility Index coming in at 68.9. 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.