Bitcoin price (BTC/USD) defends $6,300 mark on 10-year anniversary

on Oct 31, 2018
Updated: Oct 11, 2019

The Bitcoin price (BTC/USD) has seemingly stabilised after seeing its worst day in over two weeks on Monday. While the coin has seen frequent price fluctuations over the past 24 hours, it appears to have found a new trading range above the $6,300 level.

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The original cryptocurrency yesterday managed to defend the $6,300 level, despite having to resist significant selling pressure that developed after the big downward move on Monday. The digital coin had a nervous start to the session, tumbling to an intraday low of $6,310.14 shortly after it had hit its highest price level for the day at $6,364.99. The coin’s price continued to swing between gains and losses throughout the session, before eventually finishing the day at $6,334.27, slightly down from its opening price of $6,337.04.

Bitcoin has seen a similar trading pattern in today’s trading. The coin fell to an intraday low of $6,316.88, but then rebounded to reach a high above the $6,340 mark. At the time of writing, the Bitcoin price was hovering around $6,340, according to data from digital currency tracker Coinmarketcap.

While the Wednesday trading session has so far been unremarkable, today is a special day for the first cryptocurrency, as it marks it 10-year anniversary. On October 31, 2008, a whitepaper describing how Bitcoin would work was published by an enigmatic figure going by the pseudonym Satoshi Nakamoto. The nine-page paper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” also described blockchain, the distributed ledger technology that underpins Bitcoin and many other digital currencies.

In today’s trading, the Bitcoin price stood at $6,339.04, as of 11:09 GMT. The digital coin has gained 0.1% over the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at almost $110 billion, which represents 54.2% of the combined value of all digital currencies.

For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.


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