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Newsflash: Bitcoin Price Peaks at New Record High Near $7,450

Last Updated March 4, 2021 5:01 PM
Samburaj Das
Last Updated March 4, 2021 5:01 PM

Bitcoin price bulldozed its way to a new all-time high of $7,447 during trading on Friday.

Bitcoin’s latest rally continues its volatile trajectory as the value of the world’s foremost cryptocurrency struck a fresh high on Friday. Bitcoin prices have struck new all-time highs every consecutive day this November, fueled by Wall Street buzz amid this week’s announcement by the CME Group, the world’s largest derivatives exchange, to enable trading bitcoin futures contracts before the end of the year, pending regulatory approval.

On Friday, bitcoin price struck a new record high of $7,747 on Bitfinex at 09:30 (UTC). At press time, bitcoin is trading to the dollar at $7,392.

Data from BravenewCoin shows the global average bitcoin price – factoring in various spreads among global markets – reach a new high of $7,419.38. The Japanese market led the way in the global scales followed by USD-based trading markets and South Korea, with over $3.5 billion in bitcoin value flows among the three markets over a 24-hour period.

According to CoinmarketCap, bitcoin is now up 4.6% on the day with overall gains of 26.4% in a 7-day period. The total value of bitcoin’s market cap is now above $123 billion.

Featured image from Shutterstock.