Bitcoin prices are up $100 on the day, having already shot past the $1,100 mark.
Markets have risen nearly 10% over the course of the day’s trading, according to data from the CoinDesk Bitcoin Price Index (BPI), which hit a high of $1,141 at time of writing before falling back.
With the move, global exchange averages have inched closer to the BPI’s all-time high of $1,165.89, set on 30th November, 2013, leaving them roughly $25 below that level.
The digital currency’s price appreciated sharply after crossing the $1,100 line, quickly spiking to a high of $1,129.28, before meeting some resistance.
Bitcoin prices will likely face continued resistance as they approach the all-time high, as figures from BFXdata.com show that there are more sell orders than buy orders at many price points between $1,137 and $1,140.
In the last 24 hours, more than 60% of BTC/USD orders on Bitfinex have been buy orders, according to BFXdata. Adding potential resistance, however, is that this figure has now fallen below 50% for the last hour.
CNY-denominated markets are also notably up more than 23% for the day, currently averaging ¥8,219.03 after opening the day at ¥6,686.60. The price is currently at ¥7,293.60, BPI data shows.
Bitcoin prices have surged since the start of the year, building on major gains seen at the close of 2016. Average bitcoin prices across global markets exceeded $1,000 on 1st January and have been edging upwards since.
Image via CoinDesk BPI; Sad dog image via Shuterstock
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise