Decrypt Staff

The price of Bitcoin (BTC) today reached the $9,700 per coin mark to hit its highest price since late September.

The last time Bitcoin was trading for this price, it was coming down from a high of $10,000 per coin—which is where some analysts believe its currently headed.

> EOD!! https://t.co/6MA5jcdzPU
> 
> — Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) February 5, 2020

The entire crypto market is today showing bullish signs of renewed enthusiasm. At the moment, the total market capitalization for all cryptocurrencies has risen by roughly $20 billion over the last 24 hours. Ethereum, for instance, is now trading solidly above $200 per coin—its highest price in several months.

While it’s difficult to pinpoint where, exactly, this enthusiasm is coming from, the day’s been filled with announcement after announcement of big-money investors making it rain over cryptoland.

Ripple, the crypto startup behind the XRP cryptocurrency, inked a deal with one of the biggest remittance companies that serves the US-Mexico market. Payments giant Square, led by Twitter CEO (and Bitcoin bull) Jack Dorsey, chipped in on a $14 million raise for a new crypto settlement play. And Lightning Labs, a Bitcoin startup building payment solutions on the Lightning Network, announced that it raked in $10 million in investor funding from Silicon Valley fat cats.

Coincidence? Maybe. But, either way: This is good for crypto.


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<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.\r\n\r\nBitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.\r\n&quot;}" data-sheets-userformat="{&quot;2&quot;:803,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;11&quot;:4,&quot;12&quot;:0}">Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.</span>

Bitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.

Bitcoin

Bitcoin (BTC) is a peer-to-peer cryptocurrency, originally described in a 2008 paper by the pseudonymous Satoshi Nakamoto. Launched in January 2009, it was the world’s first cryptocurrency, and remains the most popular, with the highest market capitalization of all cryptocurrencies.

Bitcoin was built on several key innovations. Firstly, Nakamoto guaranteed that Bitcoin transactions were immutable, by recording all transactions on a distributed ledger known as a blockchain. Secondly, he ensured Bitcoin’s scarcity by capping the total number of Bitcoin in existence at 21 million. Finally, the community was incentivized to verify transactions by receiving rewards in the form of “mined” Bitcoin for checking the accuracy of the blockchain.

Looking at the price of Bitcoin. Image: Shutterstock

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Bitcoin today spiked nearly 7 percent, touching the $9,700 per coin price point for the first time in several months. Is $10,000 next?

Bitcoin price surges to reach new year-to-date high

Bitcoin today spiked nearly 7 percent, touching the $9,700 per coin price point for the first time in several months.