Bitcoin Jumps Above $6,000, Market Cap Almost $100 Billion – Trustnodes

Bitcoin Jumps Above $6,000, Market Cap Almost $100 Billion


Bitcoin suddenly jumped to around $6,050, making a new all-time high after rising by around $400 in just an hour earlier today.

While it’s market cap now stands at $99.2 billion, touching distance from that big $100 billion. With its market share rising to near 57%, an all-time high for the year. While its trading volumes stand at almost $2 billion.

Bitcoin breaks $6,000

It’s not clear why the currency suddenly rose so quickly, crossing that big $6,000 line, something with which it was struggling earlier this month.

But increased tensions in Catalonia, where they were protesting earlier by engaging in a bank run, might be one reason for the added fuel to the year long bull-run.

However, that might be just one aspect. The sudden price jump coincides with America waking up this morning. They are seemingly clearly feeling bullish, with the USD pair significantly dominating, handling twice more than the second trading pair, Korean Won.

Moreover, Bitfinex appears to have developed a slight premium. They have recently ordered US citizens to withdraw everything as the exchange is terminating deposits and withdrawals by US citizens.

That has added buying pressure for digital currencies as there is no other method to withdraw from Bitfinex for US based traders other than buying or transferring bitcoin, eth, or whatever else.

The currency may have also attracted general, less direct, buying interest as it is now incorporated into parts of the fabric of society following a university lecturer who gave free bitcoin as part of a curriculum class.

It is therefore continually attracting growing interest from individual and institutional investors, including Goldman Sachs which is considering opening a bitcoin trading section.

The investment bank has not yet made a decision, at least publicly, but the considerable trading volumes of some $4 billion for all digital currencies are most likely in part due to institutional investors, including high frequency trading bots.


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