Bitcoin Prices Demolish $1700 To Reach New All Time High

Bitcoin just broke the $1700 range in the last 24 hours as prices currently stand at $1738 on the Poloniex exchange, a new all time high for Bitcoin itself. Signalling a new era for cryptocurrencies themselves, Bitcoin joins the likes of Ether, as discussed previously, showing considerable growth this year. Being Bitcoins most successful year since inception, prices ultimately jumped 70% since the beginning.

all time high seen here

As seen above the prices have crept up steadily over the last 24 hours increasing to well over 2.76%. While the week started with prices settling at the $1560 mark, a huge jump of nearly 200$ has netted investors huge gains as many are selling with trading volumes well over $1 billion dollars over the past 24 hours. Predictions do suggest that the current price point is the result of a bubble as resistance is likely to push Bitcoin prices back down to $1723 which has much more support.

Speculation

To conclude, smashing it’s all time high within a matter of weeks the Bitcoin prices have pushed the boundaries once again reaching $1700 today. While this does signal the top of the current Bull Run for many, market correct will prevent a drastic drop in value as many analysts anticipate a drop to levels of $1650 – $1600 still falling within the normal range. A buy signal has been given for Bitcoin as prices are falling allowing you to purchase Bitcoin at reasonable prices as a long term trend remains bullish as prices increase. You too can purchase Bitcoin at market premium prices via the NairaEX exchange and have your Bitcoin delivered within a matter of hours!

Tags from the story
, , , , ,
Written By

Hi I'm Aleppo Allesadero a experienced bitcoin user and educator. Having worked for over a year in the bitcoin journalism ive seen bitcoin grow from strength to strength asserting its power against fiat currency. Hopefully you too can learn about this exciting new prospect which may help transform the way we see finance and economy on a daily basis.