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Bitcoin's Price Climbs Above $6,600 to Reach New Market High
Bitcoin's price has hit yet another all-time high, passing above the $6,600 level.
The price of bitcoin has reached yet another all-time high this week, rising past $6,600 for the first time.
Markets hit an average high of $6,629.00 around 16:34 UTC, data from the CoinDesk Bitcoin price Index (BPI) shows.
STORY CONTINUES BELOW
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The market ramp came hours after CoinDesk's Bitcoin Price Index reported a first-ever high of $6,500 on November 1, pushing the total market capitalization of Bitcoin to over $110 billion.
Recent price advances have increased the share of bitcoin's market capitalization compared to the rest of the cryptocurrency ecosystem. According to the data from CoinMarketCap, bitcoin accounts for nearly 60 percent of the entire $183 billion cryptocurrency market.
As of press time, the price had fallen back below $6,600, trading at around $6,579.
Hot air balloon image via Shutterstock
Wolfie Zhao
A member of the CoinDesk editorial team since June 2017, Wolfie now focuses on writing business stories related to blockchain and cryptocurrency. Twitter: <a href="https://twitter.com/wolfiezhao">@wolfiezhao</a>. Email: wolfie@coindesk.com. Telegram: wolfiezhao
