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$1,210: Bitcoin Price Hits New All-Time High

Note: At the time of this post Bitcoin was at $1,203 USD

by Charles Bovaird, Coin Desk:

Bitcoin is showing no sign of dropping below its all-time highs.  After trading above $1,000 for more than two weeks, the bitcoin price has now provided what analysts believe is ample evidence the digital currency’s price has established a floor at this level.

The cryptocurrency has been enjoying its longest stretch above $1,000 in history, a period it began on 14th February.

During this period, bitcoin prices have been pushing steadily higher, reaching a new all-time highof $1,186.33 on 23rd February and then rising to new record levels over the following sessions, according to the USD CoinDesk Bitcoin Price Index (BPI).

The digital currency most recently hit a fresh all-time high today, when it reached $1,210.16 at 03:00 UTC, BPI figures show.

At the time of report, bitcoin prices had pulled back slightly from this level, trading at $1,196.38.

Potential upside

Many market observers have emphasized that bitcoin prices could soon enjoy significant upside if the SEC approves the proposed Winklevoss Bitcoin ETF, an investment fund which has an approval deadline on 11th March.

Traders have already incorporated this event into bitcoin prices, according to several analysts.

However, many market observers have projected that the proposed fund has low odds of receiving authorization from the government agency.

Investor and serial entrepreneur Vinny Lingham, for example, gave the fund 10-15% odds of being approved in a recent blog post, while Spencer Bogart, former analyst with investment bank Needham & Co LLC, has indicated the ETF’s odds of approval are less than 25%.

While acceptance could fuel sharp price gains, a rejection could push bitcoin prices lower, analysts say.

Still, amid this uncertain situation, bitcoin prices have been experiencing little volatility in the last few days, moving largely between $1,170 and $1,210 even as they have enjoyed a steady, upward climb.

Read More @ Coindesk.com

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19 comments to $1,210: Bitcoin Price Hits New All-Time High

  • CAJUN

    Don’t……”TURN OUT THE LIGHTS, THE PARTY IS OVER” ???

    • thinking outside the matrix

      Turn out the the lights the US dollar is slowly coming to an end. We are slowly transitioning to a digital currency like I’ve said plenty times before. Bitcoin was created by the NSA and Banking Cartel. They are not going to let it fail. Matter of fact once the price continues to rise people will start herding into as I predicted when the price was only $200. The government could kill Bitcoin by simply shutting down the exchanges and prosecute merchants that accept it. This is so obvious but people continue to pretend that government can’t do anything to stop it. They could also pump and dump the price making it extremely unstable causing fear and panic. We know the government has an unlimited money supply so they can manipulate any market as long as those dollars are being accepted. Bitcoin has always been in the plan for a Cashless society. I have several videos affirming this prior to this price rise.

      • Eric

        “The government could kill Bitcoin by simply shutting down the exchanges and prosecute merchants that accept it. This is so obvious but people continue to pretend that government can’t do anything to stop it. They could also pump and dump the price making it extremely unstable causing fear and panic.”

        Nuff said. It’s not a store of value. Strange how Bitcoin never quite seems to rise above the price of Gold.

      • thinking outside the matrix

        Unfortunately most people are too naive to figure this stuff out. STOP believing in the Satoshi ferry. There is NO Satoshi Nakamoto! No one person could have created this type of technology only six weeks after the 2008 financial crisis. IT’S CALLED PROBLEM REACTIONS SOLUTION!

      • mike

        Think your way off base..First have you ever worked for gubberment in any capacity?
        You would understand the gubberment has no brain power at all. They can contract things but I seriously doubt the NSA or CIA contracted BTC.That would require thought that is not possible with regulated gub thinking…Out of their lane type of thing.
        BTC will go up and absent the Exchanges should the gubberment shut them down.BTC Will be worth a fortune if that happens. The gub will not be able to stop individuals from trading them. You might be right about more people involved in the creation of BTC but you are totally wrong if you think the NSA,CIA etc had anything to do with it. The entire gubberment is the DMV. The only thing stopping the gub now is an SOP on Btc and in order to write the SOP they first need to understand it, and that aint going to happen in our lifetime. You guys give the Gub far too much credit.

        • thinking outside the matrix

          You obviously didn’t watch any of my videos. You’re extremely naive to believe the NSA (government) and banking cartels couldn’t have created Bitcoin when there are papers written in 1996 on digital currencies extremely similar to Bitcoin. One article is called How to make a Mint: Cryptography of Anonymous Cash. This was written 12 years before Bitcoin was created and the paper is extremely similar to the Satoshi’s white paper. That was my first clue. JP Morgan has also been working on this technology and has patents in 1999 for digital currency. Obviously the government and the Banks thought it was important or they wouldn’t have been doing the research on it over a decade before the Bitcoin white paper came out. Governments are not doing anything to stop Bitcoin matter of fact they seem to be giving it a free pass every time it goes up against regulation, even though government should feel threatened by it. You want Bitcoin to be real so bad you’re willing to over look a lot obvious issues. I own plenty of Bitcoin so I’m not anti-Bitcoin. I saw this as an opportunity many years ago to get in before people started herding into driving the price up. People are just so naive that’s why the Elite can so easily manipulate the masses.

    • thinking outside the matrix

    • thinking outside the matrix

    • thinking outside the matrix

    • thinking outside the matrix

    • thinking outside the matrix

  • Eric

    Gold is measured in weight, while Bitcoin, much like currency, is an abstract form of money and can only be measured in units of itself. One Bitcoin is worth a lot more than 1 gram of gold, but a lot less than 1 tonne. Despite Bitcoin’s stellar performance in 2016, the size and depth of the cryptocurrency market is dwarfed by the $7 trillion gold market.

    Gold remains the only true global money with a size and volatility comparable to that of fiat currency.

    http://www.zerohedge.com/news/2017-02-24/good-gold-again-bitcoin-soars-new-record-highs

  • Craig Escaped Detroit

    I’ve started doing a bit of watching and learning about the crypto currency “market”, etc.

    It seems there are some troubling “concerns” about BTC may, in the future, fall down the ladder of “reliability”, etc, while something like Ethereum & Monero may rise above the problems that are now being analyzed in the BTC system.

    Dash (formerly Dark Coin), has been analyzed to have some big problems (there is a very good interview about these problems out there), but the world community is ignorant of the critical analysis, and may actually adopt it in a big way, the same way that the world adopted VHS over Betamax, even though the Betamax format was technically superior to VHS.

    BTC has a “web confirmation speed” of 10 minutes. This is a big problem if even just 10% of the planet adopts it, because billions of transactions, all waiting in line for confirmation, will bog down the system.

    Ethereum, has a 10-15 second speed to finalize transactions.

    Monero has a very robust anonymous system.

    Dash was cobbled together in a clunky way, and rewarded the early adopters or creators far too much.

  • Windrunner58

    I won’t comment til I read the comments of the “real” Bitcoin Jesus. Yes, you guessed it…..FONESTAR. How has he not commented yet? Did he sell at 800.00 and is now grinding his teeth?

    I myself sold all my BTC at about $600.00 to help pay off some real estate we own. But I see what it has risen to, so now I wait for a major pullback. There will be a major pullback…..FONESTAR please tell me there will be a major pullback!!!

    I bought Silver at a higher price, it has had a major pullback for over 7 years! I bought more, but you know, pullbacks lead to higher prices right? Rob Kirby, David Morgan, Bix Weir, Jim Willie, all those great minds…..there will be a run up at some point! Please tell me there will be a major run up!!! OR – will the Gubberment render precious metals as useless when they bring in digital money through confiscation?

    Can they confiscate food?

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