Not content with hitting the $7,000 milestone, bitcoin price struck a new all-time high of $7,350 before a flash-crash knocked nearly $600 off its value.
The world’s first and most prominent cryptocurrency is firmly in dizzying, unprecedented heights as bitcoin breaks another price record for yet another consecutive day. On Thursday’s bullish trading, prices peaked at a new all-time high of $7,350 on Bitfinex at 11:10 (UTC). Moments later, trading value pancaked in a ten-minute plunge to knock price down to $6,869. A short-lived recovery saw trading climb back above $7,000.
The downward trend continued as trading value scaled down to $6,753.
At press time, bitcoin price is back up again and trading to the dollar at $6,900.
Since the turn of November yesterday, bitcoin’s price has seen a spread of nearly $900. Despite losing nearly 3.5% in the last hour, bitcoin price is up 5% on the day and nearly 18% over a 7-day period, according to data from CoinmarketCap. The cryptocurrency’s market cap remains above $115 million, while the overall market cap for cryptocurrencies touched a new record high above $190 billion fueled by bitcoin’s gains earlier today.
Developing…Stay tuned for today’s market analysis.
Last modified: May 21, 2020 9:09 AM UTC