Bitcoin broke through the $8,000 price mark this morning, reaching an all-time high of $8,100, thumbing its nose at the growing chorus of doomsayers reacting to the financial industry’s rising interest in the cryptocurrency. The price in the afternoon had dipped below the $8,000 mark, but the past week’s trend has been positive.
Shortly after noon, bitcoin’s price stood at $8,067.09 according to coinmarketcap.com, having posted a $133.956 million market capitalization and a 4.24% gain in a 24-hour period.
The recent surge follows a near 29% plunge from the previous high of $7,562.47 on Nov. 5 to $5,650 on Nov. 12. This past week’s rally followed a $38 billion loss in market capitalization after the SegWit2x was canceled on Nov. 8. The recent volatility has been credited to the cancellation of SegWit2x, which caused some investors to move their holdings to altcoins, one sign being the near doubling in price of Bitcoin Cash.
After starting the past week below the $6,000 mark on Nov. 13 at $5,937.82, the price rose and approached the $8,000 mark on Nov. 16, at which point it ebbed and flowed until today, Nov. 19 when it finally topped the $8,000 mark.
Bitcoin’s market share of the total cryptocurrency market today was 56.07%, followed by Ethereum at 14.51%. Bitcoin’s dominance was actually higher on Nov. 4 when its
Full story at http://bit.ly/2hHlEZ2
Source: CryptoCoinsNews
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