Bitcoin Price Reaches Another Peak Crossing $ 15,000

On December 7, at 9 am EDT the price of bitcoin
broke a new record as one BTC is now worth US
$15,000 across global exchanges. Bitcoin trade
volume has been exponential with over $14.7Bn
BTC being swapped on trading platforms
worldwide.
Also read: Peer-to-Peer Bitcoiner Gets Year in
Prison for Being Unlicensed
Bitcoin Reaches $15,000 Commanding a $250Bn
Market Cap
The price of bitcoin has been on a tear over the
past week and even more so during the past
three days. In the last 72-hours, the price has
moved over $3,000 in gains, and markets are
showing feverish buy support. On December 6
when the price tackled $13K and then $14K, a
large portion of volume stemmed from South
Korean exchanges, most notably Bithumb. The
KRW volume has dropped a touch, and the EUR
has gained some significant steam. However, the
Japanese yen still dominates bitcoin’s global
markets at 47 percent. The top exchange today
trading the most BTC is Bitfinex, as Bithumb has
settled back into the second position. Following
the Korean exchange is GDAX, Bitflyer, and
Coinone. On Bitstamp, one bitcoin is roughly
around $15,200 at the time of writing.
Bitcoin trade volume among global exchanges
has been over $14.7Bn in the past 24-hours.
Technical Indicators
Looking at charts show the price has been
extremely volatile with large swings over the
course of the past 24-hours. The two Simple
Moving Averages (SMA) still have a nice gap, but
the 100 SMA and 200 SMA look as though they
are getting closer. This indicates some sell-off
may happen soon. Order books show massive
resistance beginning at $15,300 all the way to $
15,700. If bulls persist in breaking these zones,
then the price could go upward even more at
warp speed. Again since our last price report,
charts indicate that buy walls are much thinner
than the sell wall side. Which means the price
could slide downwards with ease, and not much
resistance on the way down. At press time
there’s a strong foundation around $13,400.

The price of bitcoin surpassed $15,000 per
BTC across global exchanges on December 7,
2017, at 9 am EDT.
The Verdict
Bitcoin proponents are either super happy or
extremely skeptical as a fast run up like this one
is causing some concern for a deep correction.
Some bitcoin proponents believe the time has
“finally come” and bitcoin is cementing itself into
history. Others believe the decentralized
currency has passed through a phase of maturity
and is searching for its “fair market price.” Then
there’s those speaking the word “bubble”
regularly, and they expect bitcoin and
cryptocurrency markets, in general, to burst at
the seams.
Then there are those who think institutional
money is coming into bitcoin due to the
upcoming futures markets coming shortly from
Cboe, CME Group, and other firms that have
expressed interest. Whatever is driving this
demand is causing individuals to buy up bitcoin
at the highest price it’s been all year. And $15K
per bitcoin is quite the feat!