Legacy Bitcoin Hits Another High – Next Stop, $5,000

ICO News, Investing, News | August 31, 2017 By:

The magic $5,000 per single coin price for legacy bitcoin (BTC) is now within sight, as Thursday mid-day prices saw it at an all-time high of $4,700.

With analysts predicting all sorts of sky-high valuations, it seems only a matter of time before BTC escalates into serious territory. The long holiday weekend in the US coming up should be a good test, as the foreign markets usually step-up activity big-time during domestic lulls.

Bitcoin Cash (BCC) also had a rebound day, up to $587, a gain of more than five percent in the last day, up from $557.

Ethereum’s inevitable march back to the $400 level continued, as it posted a slight mid-day gain up to $382. With the fall promising several ICOs per day, momentum should start swinging back to ETH.

Elsewhere on the crypto charts, Ripple XRP had a robust eight percent gain up to $0.244685, while Litecoin topped the $70 mark for the first time, escalating more than 13 percent in the last day. Dash held around $372, while Monero posted a nearly nine percent gain, now up to $140.

The Block Tribune Volatility Index, which measures price swings in bitcoin, sat at BTVI 49.2 today, indicating a slightly below-average volatility.



Bitcoin market highlights for the 24 hours ending August 31, 2017 at 3:00 pm U.S. Eastern Time

The highest price seen was $4,829.99 on the BTCC exchange at 11:36 am today. BTCC saw $23,328,800 of bitcoin change hands.

The lowest price seen was $4,535.64 on Bitstamp’s exchange at 4:06 pm yesterday. Bitstamp’s 24 hour volume was $38,379,800.

The average price on the surveyed exchanges, as weighed by volume, was $4,638.10.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 49.2. 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.