Bitcoin Back Above $10,500

Bitcoin Back

Bitcoin (BTC) is back above the $10,500 mark and climbing the rollercoaster 48 hours it just had.

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Source: CoinMarketCap

As per CoinMarketCap, BTC is currently selling at $10,795 and is up 13.66 percent in the last 24 hours. As you can see from the chart above, Bitcoin hit a record high of $11,488.60 at 14:09:10 UTC and dropped to a staggering $9,669 at 19:54:13, down a staggering -16 percent in just a matter of hours.

There were various reports of exchange issues when buyers/traders flooded the systems when both BTC and Ethereum, the world’s second largest cryptocurrency, hit their record highs almost simultaneously. Coinbase, the largest online exchange had to undergo various updates as their system crashed and users were completely locked out of their account. The next day, however, they underwent full system upgrades to accommodate more users being on their site and are now full systems go. Another exchange, Gemini, claimed they were “undergoing maintenance” mid-day Wednesday and completely shut down their website but got their exchange up and running that night.

Bitcoin is no stranger to high volatility, it has dipped over 20 percent in its value already on three different occasions this year. With the news breaking of the upcoming BTC futures to be traded on the Chicago Mercantile Exchange, you can expect definite price fluctuations leading up to this release.

Featured Image: Depositphotos/© SergeVo

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