With the price of Bitcoin (BTC) rising a little further almost every day, the old record of 2017 is fast approaching. But what is this record price really? Where exactly is the so-called all-time high?
Bitcoin record price
The answer to this question is not very easy. Setting the price of the AEX stock market index is easy, given that there is only one price. But it is different for the Bitcoin price. There is not one specific platform on which the crypto currency is traded, so there is not one price.
On CoinMarketCap you can therefore see the average price, based on trading volume. But that does not mean that the price you see here is actually the highest that Bitcoin has ever stood.
Larry Cermak of The Block has made a list of Bitcoin’s highest prices on the largest crypto exchanges. There is a lot of variation. On Kraken, the top is $19,660, while at BitMEX it’s $20,093.
According to CoinMarketCap, the highest point ever is $20,089, reached on 17 December 2017. The data explorer uses the following method:
„The price of each cryptoasset is a volume-weighted average of the trading pairs‘ prices for the cryptoasset.“
In this way, fluctuations on exchanges with low liquidity do not affect the general market price.
Messari uses the same number of $20,089. Another frequently quoted price is $19,783. This comes from the CoinDesk Bitcoin Price Index BitQT, and is often quoted in the larger news websites such as Fortune.
At the same time, it is easy to just keep the $20k as the top. Or Nic Carter’s suggestion: ‚We can also just have a party for every record on every stock exchange‘.
By the way: in this case we are talking about Bitcoin, looking at the dollar price. In some countries Bitcoin is already at a record high, like in Turkey.
Since the summit at the end of 2017, the local currency (the lira) has been devalued (against the dollar) to such an extent that this creates a completely different picture. But it is not only in Turkey where this case occurs. Brazil and Argentina, among others, are also affected.
Currently, the current price for one Bitcoin (BTC) equals $19,247.00. That is -0.74% compared to 24 hours ago.