New Bitcoin All-Time High above $6500, Bitcoin Cash and Bitcoin Gold Follow

Bitcoin has seen 3 new all-time highs in October alone, with the first being on October 13 at $5,842, the second on October 21 at $6,180, while the third and latest all-time high was achieved yesterday at $6,316.85. Bitcoin continues to break record highs on Wednesday as well as prices trade above $6500. Volume has increased somewhat on BitStamp, and there appears to be slightly less selling in this post-high period, for now at least. Bitcoin is trading at 6550, +1.98 as of 10:45 GMT.

Other altcoins have had rallies in the meantime, even though they have been much less pronounced and intensive percentage wise. This, of course, can be mostly attributed to the rise of bitcoin, which has skewed other cryptos on many of the alternative BTC trading pairs. Microcaps have been especially affected, again notwithstanding the smaller number of crypto assets that have managed to secure record gains, in these past few weeks.

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Bitcoin cash has almost jumped two-fold in price from the $302.385 weekly low, right up to the new $522.7 monthly high. The all-time high stands unwavering at $972.5 and presents a possible medium-term target to aim for, as well as being a final resistance level. Bitcoin gold has been trading for a week, with most volume coming from trading pairs on HitBTC, YoBit, Binance, and Bitfinex. BTG is currently trading at $137. Litecoin has endured around $50 during the larger part of October, oscillating between the $48 monthly low and $70.249 monthly high. Ethereum, on the other hand, has moved very little from $300 price point and seems to be indicating signs of accumulation. Price volatility has remained restricted to a trading range that encompasses the $353.34 monthly high and $272.2 monthly low. We have a similar situation with Ethereum classic too, with price keeping above the $9.59 monthly low, and under the $13.59 monthly high.

This post was originally published by EarnForex

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