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The Bitcoin Price Just Set a New All-Time High Above $4,700
The price of bitcoin is now trading at its highest level ever, according to data from the Bitcoin Price Index.
By Pete Rizzo
Updated Sep 13, 2021, 6:52āÆa.m. Published Aug 29, 2017, 1:38āÆp.m.
The price of bitcoin is now trading at its highest level ever.
At press time, the average price of bitcoin across global exchanges was $4,703.21, a figure that was up roughly 4%Ā from a previous high of $4,522.13 set on August 18.
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The move comes as bitcoin prices edged up over the day's session, beginning an upward ascent around 12:20 UTC. Since that time, the price of bitcoin is up more thanĀ $100, rising from $4,342 at the time.
Overall, the price of bitcoin is up from a daily low of $4,400. On the year, bitcoin is now up 350% from roughly $1,000 on January 1.
Elsewhere, the price of ether, ethereum's blockchain token, was nearing all-time highs, reaching its highest total observed since mid-June.
Rocket image via Shutterstock
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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