Bitcoin Price Rises Above US$8,900 for First Time in 2019

On Sunday (May 26), the bitcoin price reached an annual high of US$8,907.17, climbing from its 24 hour low of US$7,996.31.

It has sunk since then, hitting US$8,756.29 as of 4:24 p.m. EDT on Monday (May 27), according to CoinMarketCap. But overall the cryptocurrency’s price has increased 137 percent year-to-date from US$3,746.41 at the start of the year.

Since April 1, the price of bitcoin has steadily climbed at a noticeable uptick. In May alone, the leading cryptocurrency ascended from the US$5,389 mark.

Bitcoin prices have not reached the current level since March 2018.

Other cryptocurrencies such as ethereum and litecoin have also seen price increases. They have gained 6.7 percent and 12.8 percent over the past 24 hours to US$278.51 and US$120.69, respectively.

CoinDesk reported that bitcoin’s “Real 10” volume hit a market capitalization of US$3.1 billion on Monday. Real 10 volume is qualified as an honest trading volume as reported by the following 10 crypto exchanges: Binance, Bitfinex, Bitflyer, Bitstamp, Bittrex, Coinbase Pro, Gemini, itBit, Kraken and Poloniex.

Messario.io says that Real 10 volumes were at $2.022 billion as of 3:06 p.m. EDT on Monday. The company launched this new reporting feature in late March.

Just last week, the US Copyright Office granted Chris S. Wright the claims to the original bitcoin whitepaper, ultimately crediting him as the formerly unknown Satoshi Yakamoto.

Several individuals in the bitcoin community have rejected this claim. Meanwhile, bitcoin SV (run by Wright) saw its price leap 70 percent in a matter of hours after the announcement.

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Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.