Bitcoin Eyes Test of Record High; Bitcoin Cash Crashes 13% By Investing.com

© Reuters.  © Reuters.

Investing.com – Bitcoin prices rose on Monday, surpassing $4,700 for the first time in six weeks as the digital currency edges closer to its recent record high while Bitcoin Cash came under pressure dipping below a key support level.

On the U.S.-based Bitfinex exchange, rose to $4,761.1, up $146.6, or 3.18%.

Bitcoin prices are back above pre-China-ban levels as traders anticipate the next leg higher in the digital currency could see it test its all-time high of $4,969. The sharp move higher has seen bitcoin’s market cap surge to $79.78 billion


The recovery in Bitcoin prices comes less than a month after China clamped down on bitcoin related activity, ordering domestic bitcoin exchanges to cease operations.

In other cryptocurrency news, fell below a key support level of $300 crashing 13.91%, to $295.87, while , the second largest cryptocurrencies by market cap, fell 5.82% to $291.70.

Ethereum prices continue to come under pressure as investors await the upcoming Byzantium hard fork expected on October 17.

The market cap of both and is well below that of Bitcoin at $5.03 billion and $27.7 billion, respectively.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Must READ:   How Decentralized Exchanges Make Bitcoin More Resilient (and Us More Free)

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *