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Bitcoin's Price Climbs But Falls Short in Bid to Top $2,000
Bitcoin prices neared $2,000, but they failed to break through this key level.
Updated Sep 14, 2021, 1:57 p.m. Published May 19, 2017, 9:15 p.m.
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Bitcoin prices came within striking distance of $2,000 today, falling short by about $50, according to the CoinDesk Bitcoin Price Index (BPI).
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The price of bitcoin rose to as much as $1,955.92 during the session, bringing the cryptocurrency less than 3% below $2,000. Markets later fell back to $1,911.79 by roughly 18:45 UTC.
At press time, the average price of bitcoin is $1,940.21, BPI data shows, representing a roughly 2.8% gain since the day's open.
Bitcoin's price has followed a steady, upward trend over the last several months, pushing higher as the broader cryptocurrency space draws sustained inflows. The total market capitalization of the digital asset ecosystem reached a record $67.5bn earlier today.
Some analysts, including investor and entrepreneur Vinny Lingham, see more upside in bitcoin's future. Yet such developments would be contingent on the resolution of the ongoing debate around scaling the digital currency network, Lingham told CoinDesk.
Golf ball image via Shutterstock
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With so many other asset markets in rally mode, investors for the moment appear to have moved on from crypto.
What to know:
- Friday's crypto bounce is sharply reversing on Wednesday, with bitcoin falling back below $66,000.
- Fading Fed rate cut hopes are weighing on markets, but the crypto bear market began last year as the U.S. central bank was cutting rates.
- The hard data, along with anecdotal evidence, suggests crypto investors have lost interest and moved on to any number of other rallying markets.
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