Bitcoin climbed 11 percent into Friday to post its highest price since mid-December: one coin was worth $16,920, cross-exchange data shows.
Exchanges tracked by Coinmarketcap recorded an average trade price maximum of just under $17,000 earlier Friday before a slight correction saw Bitcoin head back towards $16,000.
The performance is encouraging for holders who have watched profits ebb as altcoin markets continue to surge. The trend marks a pause after several weeks of bearish action for BTC, which did not immediately correct following its dip from $20,000 to around $13,000 last month.
On social media, casual traders were eyeing Bitcoin’s reversal to continue, noting its impact on altcoin markets.
I was surprised to see altcoins holding their value against bitcoin's rally today. Personally I'm still licking my wounds from the summer when I was holding all altcoins during the bitcoin cash fork. Since then I make sure to have a few bitcoins and big volume altcoins.
I'm still a little gun shy right now about picking up altcoins because I have a feeling we are going to see bitcoin pass $20K USD very soon.
This price rise is very much important for bitcoin's future because bitcoin price recently crashed at the time of Christmas then people speaking that this is the end of bitcoins and some altcoin continuously rises and people started comparing bitcoins with ripple so funny right.But today the price of bitcoin raised almost 13% which means king is back into the attack. Exchanges tracked by Coinmarketcap recorded an average trade price maximum of just under $17,000 earlier Friday before a slight correction saw Bitcoin head back towards $16,000.
The performance is encouraging for holders who have watched profits ebb as altcoin markets continue to surge. The trend marks a pause after several weeks of bearish action for BTC, which did not immediately correct following its dip from $20,000 to around $13,000 last month.
On social media, casual traders were eyeing Bitcoin’s reversal to continue, noting its impact on altcoin markets.
I was surprised to see altcoins holding their value against bitcoin's rally today. Personally I'm still licking my wounds from the summer when I was holding all altcoins during the bitcoin cash fork. Since then I make sure to have a few bitcoins and big volume altcoins.
I'm still a little gun shy right now about picking up altcoins because I have a feeling we are going to see bitcoin pass $20K USD very soon.
We have to understand that the crash happened because people are simply cashing it out for the holiday season. And now its over, people started to put their money again to bitcoin ecosystem because they needed money once more. So now the price is slowly picking up trading $17,000 a pop. Yes, lately we have seen some kind of phenomena. Before it was like when Bitcoin is going up, altcoins is bleeding. But now we have seen a different trend. Both has really enjoy a surge at the same time. My speculation is that new faces are going to the market which makes both ecosystem flourish. Of course most traders are just shifting funds around, but I think that there are newcomers everyday that is flocking, in hope that someday they will be rich by investing or trading cryptos.
