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.
To borrow a phrase from baseball, bitcoin’s long fly ball was caught on the warning track. A day after the legacy cryptocurrency threatened to breach the $5,000 single-coin mark, it pulled back to the $4,800 pricing level at mid-day.
Was it cold feet by investors?
The $5,000 bitcoin is in sight! Today at mid-day, legacy bitcoin (BTC) stood at just over the $4,900 mark for its single-coin price, within hailing distance of its all-time high and up three percent on the day.
This latest bitcoin rally has BTC up more than $600 from Friday’s $4,300 single-coin price.
Bitcoin continued marching sideways today, clocking in at the $4,300 single-coin level at mid-day on Thursday, up slightly more than two percent from yesterday’s trading. The legacy bitcoin (BTC) market appears to be in the doldrums after a steep run-up from the $3,500 level at the end of September.
Although bitcoin is trudging sideways on most exchanges, it’s booming on at least one. But there’s a footnote to that.
The WEX exchange reported a legacy bitcoin (BTC) price yesterday afternoon of $5,011.00000000. WEX saw $11,917,900 of bitcoin change hands. That single-coin price would be an all-time high for legacy bitcoin.
It was a red arrow Thursday in the cryptocurrency markets on Thursday, as profit-taking (or, if you’re a pessimist, a full-on retreat) took over the pricing indexes.
The red arrows saw legacy bitcoin (BTC) slump to just over the $3,700 mark at mid-day,