Bitcoin has continued to trade at over $4,000 since reaching a record level of $4,225 yesterday, and has now set a new all-time high of over $4,300.
According to the CoinDesk Bitcoin Price Index, average prices across exchanges today opened at $4,111 and have seen a 4.97 percent increase so far. At press time, a bitcoin was worth $4,315
Notably, since the price passed the $4,000-mark for the first time yesterday, prices have maintained a level fluctuating at around $4,100, only dipping to below that level once when bitcoin was trading briefly for around $3,900. However, prices soon returned to above the $4,000 point.
The record-breaking price levels would seem to indicate money coming into the market that had been held back pending the uncertain outcome of a split of the bitcoin network that resulted in a new cryptocurrency called bitcoin cash.
Bitcoin cash, which was created on August 1, already stands as the fourth largest cryptocurrency by market capitalization and currently has a value of around $306, according to CoinMarketCap.
The total market cap of all cryptocurrencies has again reached previously unseen levels, and has now reached $138 billion – a billion higher than yesterday’s all-time high.
Climbing image via Shutterstock