It was a historic week for the cryptocurrency markets. Driving the 10,000 USD Bitcoin price, a coin and chip count of recordings has registered record levels, and – despite worries that the charts are heating up too fast – the rally should not show signs of slowing.
Bitcoin entered the middle of the week with a vengeance, and the cryptocurrency market capped a 24-hour surge of 26.2 billion dollars. At present, the total cryptocurrency cap is 334.3 billion dollars. I need to say that this is a new high level.
The crypto-market head now has to add just 17 billion dollars to overcome JPMorgan’s total rating, whose CEO has taken to name Bitcoin as a “fraud.”
The Bitcoin price reaches a global average of 11,000 USD
As CCN described, the Bitcoin price has completed its successful on Tuesday at 10,000 USD, driven by the insatiable demand of Asian merchants. The rally continued on Wednesday, and the global commodity value dropped by 11,000 USD, while Korean traders offered a price of nearly 12,000 USD. At the time of signing, Bitcoin was traded at a global average of 11,096 USD, which represents a 24-hour gain of 11% and turns into a market cap of 192.44 billion dollars.
As has happened many times in 2017, the Bitcoin has entered the undiscovered waters. The price cadence of November is unprecedented, and no one knows where it will go from here. Many analysts expect to see a short-term correction as merchants take advantage, but at least for the moment, the withdrawal has not materialized.
Ethereum Price Eyes 500 USD
Ethereum, on the different hand, exposed a relatively calm trading day. The ETH price recorded a gain of 2.5% times a day, reaching a current value of 486 USD. This places Ethereum close to the maximum level it set earlier this week, making it believable that the second longest cryptocurrency will lose 500 USD shortly.
Altcoins shatters Records
Altcoins added a total of 6 billion dollars on Wednesday, and this increase has generated a lot of cryptocurrencies at high levels. In particular, a result of this move is that each top 10 cryptocurrencies now has a market cap of at least 3 billion dollars.
Despite the global progress, the two most large forks – Bitcoin Cash and Bitcoin Gold – fell for the second consecutive day. Ripple, the fourth most significant cryptocurrency, rose 4% to 0.280 USD and a market share of 10.8 billion dollars.
Litecoin, ranked in the sixth place, followed a Bitcoin on record empire and eventually won the first 100 $ mark.
Not wanting to be overtaken, the Dash price has made a 13% increase, allowing it to grow over 700 USD to a present value – and the new high all-time – of 747 USD.
From here, the graphs start to look dizzy. IOTA has 35%, while Cardano climbed to the top 10 with a 148% rally. Stellar – ranked 14th – with 48%, and many other currencies gained the bullish mood reverberated in the markets.