Bitcoin prices are hockey-sticking on a hockey stick.
The cryptocurrency’s gains Thursday morning hit new heights, striking well above $18,000 across widely varying exchanges, coming to rest above $16,000 while the popular Coinbase exchange had been suffering major issues due to “record high traffic.”
Bitcoin was trading below $8,000 two weeks ago.
This is a truly, truly volatile game at this point; the swings didn’t appear as consequential when the market cap rested in the low billions, but as institutional pocketbooks push that cap to nearly $300 billion, the stakes are raised considerably.
What’s further disturbing is how widely the prices are varying across exchanges — there doesn’t seem to be a stable consensus on where the price is. While bitcoin prices on Coinbase’s GDAX exchange approached nearly $19,000 (!!!) this morning, others had the price sitting at thousands of dollars less.
The price is currently trading at $15,499 on Bitfinex and $17,639 on GDAX. Coindesk’s bitcoin price index currently has the cryptocurrency trading around $16,000. These figures have probably swung by several hundred dollars since I typed this sentence.