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Markets
Election 2024

Bitcoin Price Sets New All-Time High as Crypto Market Tops $170 Billion

Bitcoin prices are breaking above $4,700 again, just a day after the cryptocurrency's previous all-time high.

By Stan Higgins
AccessTimeIconAug 31, 2017 at 12:34 p.m. UTC
Updated Aug 18, 2021 at 6:49 p.m. UTC
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Bitcoin's price has risen above $4,700 for the second time in as many days to hit a new all-time high.

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    • Prices climbed as high as $4,747.15, according to the CoinDesk Bitcoin Price Index (BPI), after opening at roughly $4,630. The gains come a day after bitcoin's price increased to $4,703, surpassing the previous market high set on August 18.

    At press time, the price of bitcoin is at a global average of $4,733.74, representing a gain of about 2.2 percent, BPI data shows.

    Market data shows that all of the top 10 cryptocurrencies by market capitalization are also seeing prices increases today. Ether, the cryptocurrency of the ethereum network, is currently trading at around $381 – a price that is still below the all-time high reported in June but higher than the gains reported earlier this week.

    Combined, those price gains have pushed the overall market capitalization above $170 billion for the first time, according to data provider CoinMarketCap.

    Hot air balloon image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.