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Bitcoin Prices Retreat Toward $4,100 While Bitcoin Cash Soars
Following a week of thrilling price gains, bitcoin prices have now dropped back towards $4,100. The new bitcoin cash, however, is at a record high.
Following a week of thrilling price gains and two all-times highs – $4,483 on August 15, and $4,520 on August 17 – bitcoin prices have now slumped back toward $4,000.
STORY CONTINUES BELOW
Opening the session at $4,159, price across global exchanges peaked early at $4,406 and have since steadily dropped and at press time had recovered sightly to $4,112. The low for the session was $4,040, according to CoinDesk's Bitcoin Price Index.
Bitcoin's market capitalization now stands at over $67 billion, down from $73 billion two days ago, according to data from CoinMarketCap
While the price news isn't positive for holders of bitcoin, bitcoin cash – the new cryptocurrency created via a fork of the bitcoin blockchain on August 1 – has seen prices rocket to a new record high of $756 soon before press time.
Ethereum, the second largest cryptocurrency after bitcoin, is currently trading sideways with prices currently around $293.
Looking more widely, the combined market cap of all cryptocurrencies has dropped to $141 billion from its all-time high of $144.7 billion on August 17.
BASE jumper image via Shutterstock
Daniel Palmer
Previously one of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 750 stories for the site. When not writing or editing, he likes to make ceramics. Daniel holds small amounts of BTC and ETH (<a href="https://qa.coindesk.com/editorial-policy/">See: Editorial Policy</a>).
