Markets Update: Bitcoin's Price Re-Captures the $16K Territory

The weekend is coming, and things are looking far more optimistic for bitcoin markets than the last two holiday weekends. BTC/USD market value has jumped considerably since it hit a low of $11,600 across global exchanges with the price now averaging $16,500 per BTC on January 5. Last week a bunch of tokens priced under $5 USD like ripple, stellar, and others had seen exponential rises while BTC markets moved sideways. Today’s BTC spike is seeing many of those coins dip in value by 15-20 percent.

Also read: Japan’s GDP Grows Due to Bitcoin Wealth Effect

The Big BTC Rebound Back to $16K

Bitcoin core markets have rebounded over the past two days as each token has gained over $1,000 in value per day. A few days ago when Peter Thiel announced he purchased millions worth of BTC the price jumped from the low $14,000 range to over $15,000 but remained stable until today. Other coins like NEM, ripple, and ethereum saw considerable jumps in value while bitcoin core markets bounced between $14900-15,200 during the last 48 hours. Today is a different story as BTC has risen to a high of $16,500 during the mid-afternoon’s trading sessions.

Markets Update: Bitcoin's Price Re-Captures the $16K Territory
Today’s most popular trade on Shapeshift with BTC is ETH.

BTC trade volume is considerably strong with over $22Bn worth swapped over the past 24-hours. The most prominent exchanges holding the most volume today are Binance, Bitfinex, Bithumb, Bittrex, and Poloniex. South Korea’s Bithumb and other trading platforms in that region are trading bitcoin, ripple, and other digital assets at a premium. The USD is still the dominant currency Read More Here