Bitcoin Reaches Above $19,500 On GDAX, Smashes Records


It has been a crazy morning for the world’s largest cryptocurrency by market value, Bitcoin. There have been varied reports coming from different exchanges on its record highs. Coinbase’s GDAX, which is currently down, had estimates that Bitcoin reached $19,500, whereas multiple other exchanges such as CoinDesk and Coinmarketcap, have that its high was reached at just under $17,000.

Source: CoinDesk

As per CoinDesk, the Bitcoin-U.S. dollar (BTC/USD) exchange rate skyrocketed to an all-time record high of $16,601.77 at 16:28 UTC. At press time, the cryptocurrency is changing hands at $15,436.18 and is up 12.60 percent on the day. Per their charts, Bitcoin grew in value $2,795 in 24 hours time.

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Source: CoinMarketCap

As per CoinMarketCap, the Bitcoin-U.S. dollar (BTC/USD) exchange rate jumped to an all-time record high of $16,923.80 at 16:24 UTC. At press time, the cryptocurrency is changing hands at $16,170.60 and is up 25.34 percent in 24 hours. Per their charts, however, it shows that Bitcoin grew in value $4,003 in just a day’s time.

Source: CoinBase

The massive influx of investors flooding the market seems to have crashed the Coinbase exchange again. The company is the largest platform in the US for buying and selling cryptocurrencies.

Last Wednesday, it experienced the same technical difficulties as users were unable to access their wallets at Bitcoin hit a high of just over $11,300. Many investors flooded the exchange, wanting to get in on the bullish climb but ended up being too much for the system to handle.

Source: CoinMarketCap

The last 24 hour BTC trading volume reached a record high of just over $28 billion, according to CoinMarketCap. Just to put that into context, that is more than half of the $50 billion worth of securities that trade of the NYSE during a daily session. At press-time, Bitcoin’s market cap is over $266 billion.

As Bitcoin futures begin trading this Sunday on CBOE, investors seem to want to get into the action early before the cryptocurrency is taken mainstream. The big futures contracts are set to launch on the Chicago Mercantile Exchange next Sunday, December 17.

Featured Image: Depositphotos/© yamabikay

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