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Bitcoin’s Price Hitting Two-Week High: Back Above $4K

By Anne W. | January 7, 2019
Bitcoin’s Price is Back Above $4K

After hovering around the $3700-$3900 marks the last few weeks, Bitcoin’s price is back above $4K, up a solid 6 percent on the day, marking its highest point in two weeks.

According to CoinDesk data, Bitcoin’s (BTC) price spiked $262 on Monday at 17:10 UTC to $4,063, regaining losses seen toward the end of December.  

The price of Bitcoin (BTC) has risen above $4000 for the first time this year. Source: Coindesk

This move has been accompanied by a large injection of volume. Bitcoin’s market capitalization has also risen substantially, hitting $70.73 billion at the time of writing – an increase of $4 billion since Dec 25. 

Notable Price Actions from Altcoins

Clearly, Bitcoin isn’t the only coin to receive notable price actions. The market has seen some positive signals with Litecoin (LTC), NEO (NEO) and Cardano (ADA) leading the top 25, up 12.16, 10.6 and 9.11 percent respectively. 

Coindesk data shows that XRP is currently trading up 3.2% at $0.369 and is still trading below its one-week highs of $0.38. Litecoin is one of today’s best performing altcoins and is trading up nearly 12% at its current price of $39.3. Litecoin is up from weekly lows of $30.

Although most altcoins have surged, Ethereum is still stuck under $160, which is becoming an increasingly strong resistance level. At the time of writing, Ethereum is trading up marginally at its current price of $158.

The combined market capitalization of all cryptocurrencies is up $6.1 billion from yesterday’s top of $132 billion and is currently sitting just above $138.1 billion. The current value is slightly higher than the intra-week high of $135.2 billion, reported Jan. 2 as CoinMarketCap data shows.

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