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Saturday, 20 October 16:31 (GMT -05:00)



Foreign exchange market

Bitcoin Sets Another All-Time High


Bitcoin has completely recovered from September’s downtrend and is now moving higher. Moreover, the world’s first and most popular cryptocurrency has just set a new all-time high, Market Leader reports.
 

 

 

 

 
For those of you who don’t know, Bitcoin saw a drawdown in September after the news that China banned ICOs. However, as predicted by NordFX experts, this event had a short-term impact on the digital currency. After plunging for a while, the BTC exchange rate reversed and started regaining the lost ground and even moving further up to new local highs. Eventually, the currency broke above the $5000 threshold and set a new all-time high. At this point, Bitcoin’s market capitalization is over $84,7 billion.
 

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According to CoinDesk and Coinmarketcap, Bitcoin has already exceeded $5100 per 1BTC. The current all-time high is $5145 per 1BTC. This means, the world’s biggest digital currency gained almost 7% in a single day. However, Bitcoin remains volatile. Previously, Bitcoin touched the $5000 threshold on September 2nd. Since then, the exchange rate plunged a couple of times, thereby creating a roller coaster.

 

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