Bitcoin Flies Past New All-Time High of $4K Across Global Exchanges

The price of bitcoin has climbed to another all time high of $4,000 per BTC across global exchanges on August 12 at approximately 9:40 pm EDT. It was just seven days ago when bitcoin’s price surpassed the $3,000 zone gaining $1,000 in value in just one week.

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Bitcoin Gains $1000 in Value Over the Course of One Week

Last week reported on how bitcoin crossed the $3K price range just five days after the network split. Now a week later the decentralized currency has continued to rise relentlessly and now commands a weighted average of $4140 per BTC at the time of writing. Most of the current demand for bitcoin is stemming from the U.S., Japan, China, South Korea and India, but the cryptocurrency is growing more popular in nearly every country worldwide according to Google Trends. Local Bitcoins volumes are also soaring in every nation state recorded by Coin Dance data.   

Bitcoin Sets Another All-Time High of $4K Across Global Exchanges
Bitcoin crosses $4K on August 12, 2017, 9:40 pm EDT.

At this price, bitcoin’s entire market capitalization is roughly $66B and dominates 47 percent of the entire $134B cryptocurrency market cap. Further, since our last price analysis, BTC trade volume has increased from $1.7B to $2.3B over the past 24-hours. The $4K bitcoin price also follows in line with Goldman Sachs recent BTC prediction two months ago. Goldman Sachs chief technician, Sheba Jafari said at the time;

[Bitcoin] has a minimum target that goes out to 3,212. There’s potential to extend as far as 3,915. It just might take time to get there.  

Bitcoin Sets Another All-Time High of $4K Across Global Exchanges

Brace Yourselves, Pictures of Bitcoin Price Tickers and the ‘Roller Coaster Guy’ Are Coming

Bitcoin’s value has gained $1000 per BTC over the course of the last week, and it wasn’t so long ago when the price surpassed $2K back in May. At the time bitcoin’s average 24-hour trade volume was roughly $1B, and since then volumes have doubled worldwide. Moreover, when bitcoin’s price reached the $2K milestone the network hashrate was 4.2 exahash per second, and now miners are processing at 6.1 exahash per second. Mining revenue is also doing quite well reaching its highest point in history, making mining a very profitable business in 2017.

Bitcoin Sets Another All-Time High of $4K Across Global Exchanges
In parallel with the price, Bitcoin interest is at an all time high.

Of course, cryptocurrency enthusiasts are very pleased with bitcoin’s price performance. Social media and forums are littered with pictures of people’s price tickers at $4K with plenty of funny ‘roller coaster guy’ memes as well. There have been some individuals who feel like these rises are no big deal anymore and new all time highs are just like any other day in bitcoin-land. One forum post nonchalantly says, “Meh — Getting boring, wake me up when we’re at $10k please.”

Where do you see the price going from here? Let us know in the comments below. 

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  • Greywolf

    5k soon

    • Daxx10

      $5k by just beyond end of Aug.
      $6k – 7.5k by end of 2017.
      $10 – 12k by Jun 2018.

      • Hocky Krack

        Ok, if now buying for $10 000 and just holding and sitting tight couple of years, then sell with 2000 – 5000% profit and retire. Easier than ever. Uhmm, no wait…

        • Daxx10

          Sounds like you’re getting there.
          What are you asking me to wait for? Your full constructed retirement plan?

          • Hocky Krack

            Well maybe it isn’t quite that easy after all 🙂 I am not going to sell my apartment to buy BTC.

  • lets goooooooooooooo

    • Hocky Krack

      yeah, but which way? Value is now diving deeply, now around $3860.

      • zelrik

        Some people are cashing in. It’s already bouncing back.

  • Tybello

    In march this year my senior partner told me btc will hit $5k by December and I believe him. The way its going now. I think he may surpass that. @tybello

  • Mads Olsen

    25k before summer 2018 and 250k before summer 2019 and 2 million before summer 2020 and more than 10 million summer 2021, after that, we will have an increase of 25% yearly until Bitcoin replace USD as currency reserve. Owning a whole Bitcoin will be something most of us won’t do. Most of us would sell at far lower prices. So guys, keep at least one Bitcoin to 2025. It will take care of generations of your children and their childrens children.

    • Mads Olsen

      PS, for each dip Bitcoin take, the big players are clapping their hands while filling their cold storages with even more Bitcoin. The big players has realized where this goes and the real big players (states) will soon do. This will push Bitcoin past 10 million before summer 2021.

      • Hocky Krack

        Hope this comes before you get in to reply to yourself again 🙂 Please consider risks and downsides too. It is healthy. One day a better altcoin will come or it may be there already. Some altcoins already have better features or qualities than BTC. Then the big governments, how do they join the party at last? And splitting going on and on, hard forks, soft forks?

      • Dr. Bubó

        Since the global GDP divided by 16million is about 4 million USD, for BTC reaching 10 million would take a total world economy collapse. Is it what you want? WWIII, hunger and misery?

        • Mads Olsen

          You can’t look at GDP alone. You have to look at wealth, bonds, how much money is stuck in gold.

          • Dr. Bubó

            When GDP falls, everything falls with it. Like in 2008, GDP fell 5%, stock market fell 50%.
            But I am all ears to hear your theoretical maximum price.

  • Peter Joy

    If bitcoin 4k what price bch should be

    • Daxx10

      Currently $311 – inflated because not all exchanges allow deposits / trading.

    • meltorgamblor

      We are approaching interesting times with the difficulty adjustment coming up for BCH. It will likely be the more profitable chain to mine, and may attract more miners than BTC. Holding on to BCH is a good idea.

  • All I want for Christmas is financial independence.

  • Ed Jirikils

    Once big institutional money joins the party this rocket ship will jump to light speed.

  • Micheal Harth

    Buy bitcoin at the cheapest rate, contact me