The price of bitcoin has once again reached a new price high on December 6 touching $14K across exchanges worldwide. The value touched an all-time high of $14,047 and quickly dropped to the $13,500 range shortly after. At the moment order books across exchanges are going wild.
The bitcoin price locomotive continues to truck upwards and steamed past the $14K region on December 6. Bitcoin’s value had touched $14,047 per BTC at approximately 8 pm EDT. The price already reached the $13,000 region earlier in the day for the first time. The currency has increased by 20 percent from the start of the day’s trading sessions and currently commands a record global trade volume of over $13Bn over the past 24-hours. At $14,000 per BTC the decentralized currency captured a massive $235Bn market capitalization.
Currently, South Korean markets are pushing the volume to extreme levels as Bithumb is commanding the top exchange position today. The Korean trading platform is followed by the exchanges Bitfinex, GDAX, Binance, and Bittrex. The Korean won has taken a large chunk of the Japanese yen’s dominance over bitcoin markets. At the moment the Japanese yen only captures 48 percent as the KRW has pushed up to 7.9 percent behind the USD.
The $14,000 range didn’t last long but bulls still have a lot of pressure pushing up the price. Above the $14K area is a lot of resistance with gigantic sell walls between the $15-16K territories. In the background, however, buy walls are much thinner showing that very large and quick dips like the one that took place earlier this evening could happen quite easily. After dropping to the $13,500 region bulls have already pushed the price back above $13,900 only a few minutes later, proving anything can happen going forward.
The fact that the price of bitcoin had moved over $1,000 in one day from $13K to $14K has been astonishing, to say the least. But everyone involved with bitcoin knows the honey badger of money doesn’t care what any of us think and keeps on making its mark on the world.
Where do you see the price of bitcoin heading from here? Let us know in the comments below.
Disclaimer: Price articles and bitcoin markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images via Shutterstock, Pixabay, and Bitstamp.
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Author: Jamie Redman