Bitcoin price soars to over $4700 as market cap for entire cryptocurrency space clears $160 billion

On Aug. 29 Bitcoin and many other cryptocurrencies joined in on gold’s big moves following the tragic consequences of Hurricane Harvey, and the ongoing geo-political threats coming out of North Korea.

In fact Bitcoin jumped out of recent stagnation to hit a new all-time high of $4700, while the overall market cap of cryptocurrencies soared above $160 billion.

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% from a previous high of $4,522.13 set on August 18. – Coindesk

Bitcoin and Ether cryptocurrencies rose Monday, helping digital currencies broadly to an all-time valuation record. 

The total value of the digital-currency universe tracked by data research site Coinmarketcap.com, including those linked to the 

Bitcoin BTCUSD, +4.99%Ethereum and Ripple blockchain networks, reached around $160 billion on the session, surpassing a previous record at $156.4 billion on Aug. 25. – Marketwatch


Source: The Daily Economist