Bitcoin has been trading in volatile positions and has been seen swinging for the past 2 trading sessions. The price was seen fluctuating in the $4,050 to $4,200 range.
Prices for the digital currency from across the market reached an average of $4,109 at the time, which was first at $4,206 as the session opened and reached a high of $4,208 at 8:00, this was according to CoinDesk’s Bitcoin Price Index.
Investors are now concerned whether the price of bitcoin would rise or fall given the situation, although, analysts from Goldman Sachs says that bitcoin could rise as high as $4,800 in the current market.
In other news, the new digital currency alternative, Bitcoin Cash, sets its all-time high which was pinned at $1,091 in the session. These briefly caught observers off guard according to the data collected from the Coin Market.
Since being created in a fork of the bitcoin blockchain on August 1, Bitcoin Cash prices has been for the greater part and is trading steady around $300. However, a sudden surge on August 17 saw that there was an enthusiastic trading, particularly in the South Korean exchange markets which took the digital asset to new unseen highs for the session.
Ever since then, Bitcoin Cash prices have dropped and are now just above the $800 mark.
Generally, the market is still trending up, with the market capitalization across all digital currencies which is currently trading at $146 billion a smidge lower from its record high of $147.2 billion that was set around 8:00 today, as the trading week begins.