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$5,000: Bitcoin Price Hits Historic New Milestone
Bitcoin markets rose above $5,000 for the first time after a week of rising prices.
Door Stan Higgins
Bitcoin's price rose above $5,000 for the first time today.
The CoinDesk Bitcoin Price Index (BPI) hit a high of $5,013.91 at 02:25 UTC, market data shows, staying above that level over the next 10 minutes of trading. The price then dipped below the $5,000 mark, falling over the next hour to a low of $4,867.18 at 03:28 UTC.
Market data points to Chinese bitcoin exchange OKCoin leading the spike, with that market hitting a high of $5,149.
Markets then climbed back above $4,900, reaching $4,916.39, BPI data shows, before sliding again. As of press time, bitcoin's price is trading at $4,877.36, according to the BPI.
A week ago, markets were at ranging between $4,340 and $4,370, and on Tuesday the weekly low was recorded at $4,221.44. Yet in the past few days, markets saw significant surges, shooting past the $4,700 and $4,800 levels to hit new all-time highs.
Image via Shutterstock
This piece has been updated.
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Wat u moet weten:
- U.S. stocks and oil rallied, with the S&P 500 logging a ninth straight weekly gain and Brent crude hovering near $92 a barrel on hopes for a U.S.-Iran ceasefire extension.
- Major cryptocurrencies lagged the macro rally, with bitcoin, ether and other large-cap tokens falling around 2% to 6% amid cooling...
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