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Saturday, October 21, 2017

Crypto News: Bitcoin surges above $6,000 for the first time on heavy trading volume

Bitcoin surges above $6,000 for the first time on heavy trading volume

Bitcoin surged 5 percent to a record high above $6,000 on high trading volume Friday.

The cryptocurrency hit a record high of $6,003.81 in late morning New York trading, according to CoinDesk. Bitcoin later pared some gains to trade around $5,905 by early afternoon.

Twenty-four hour trading volume in U.S. dollars for bitcoin was nearly $2 billion, versus the hundreds of millions for other digital currencies such as ethereum and the bitcoin offshoot, bitcoin cash, according to another industry data website, CoinMarketCap.

"In the last 24 hours and really the last few hours there has been a massive inflow of capital into bitcoin, significantly outweighing the amount of new money flowing into other cryptocurrencies," said Alex Sunnarborg, founding partner of cryptocurrency fund Tetras Capital.


Full story at http://cnb.cx/2xTQSlB


Source: CNBC


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