Bitcoin Price Hits New High; Overall Market Capitalization Soars

Bitcoin (BTC) Makes a Fresh High but Hourly Momentum Starts to Slow

The largest digital cryptocurrency by market capitalization made a fresh high in European trade but the move started to find resistance on the hourly chart as profit taking took hold. Bitcoin touched a high of USD4,485 in early European turnover pushing the digital currencies market value to just over $73 billion, just over half of the overall cryptocurrency market capitalization.

Chart: Bitcoin (BTC) Price: Daily/1 Hour Timeframes– August 17, 2017

(Click on image to enlarge)

Bitcoin Price Hits New High; Overall Market Capitalization Soars

Market Moves/Top 8 Capitalizations – August 17, 2017

(Click on image to enlarge)

Bitcoin Price Hits New High; Overall Market Capitalization Soars

Bitcoin Makes its Bond Market Debut

A novel new approach to fund raising was announced by Japanese information provider Fisco Ltd using Bitcoin as the underlying currency. In a test case, a unit of the company issued three-year debt worth 200 BTC to another firm within the Fisco organization. According to a Bloomberg report, the bond was designed like a regular corporate note to meet regulatory requirement. The note carries a three percent coupon and will repay the 200 bitcoins on maturity.

Disclaimer: DailyFX, the free news and research website of leading forex and CFD broker FXCM, delivers up-to-date analysis of the ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.