Bitcoin prices reached $9,786 Friday, May 4, as momentum continues to build for a challenge to resistance around $10,000.
Data from Cointelegraph's price index and market visualization tool Coin360 revealed two attempts to retake the significant boundary Friday, both of which almost touched $9,800 before correcting downwards.
At press time, BTC/USD was hovering around $9,730, up around 5.6 percent in the past 24 hours, and almost 50 percent since the start of April.
This week has produced continued upside throughout the market, the news marked by a sudden announcement from Goldman Sachs that it has chosen to offer clients Bitcoin trading products.
Reacting to the plans, cryptocurrency industry figures appeared buoyant, entrepreneur Alistair Milne drawing comparisons to heightened market sentiment in December 2017 as the first regulated Bitcoin futures launched in the US.The CME/CBOE Bitcoin fomo started around $7k.Now, the Goldman Bitcoin fomo started around $9k#popcorn.
Away from Bitcoin, Ethereum also produced significant gains this week.
The world's largest altcoin by market cap reached a multi-month high, climbing over $800 today for the first time since March 6.
ETH/USD was up over 10 percent in the past 24 hours, trading around $798 to press time.
The coin's monthly gains have surpassed a whopping 110 percent.
Elsewhere in altcoins, Ripple is up almost 7 percent on the day, while Bitcoin Cash posted only modest gains of about 2 percent in the same period.
Bitcoin Price Challenges $10K Amid Bullish Sentiment, Ethereum Reclaims $800
Published on May 4, 2018
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.