BITCOIN SHATTERS $18,000 MARK LESS THAN 3 HOURS AFTER $17,000`
Bitcoin sees unprecedented levels of buying with Bitcoin.Info showing a price surge of more than $3000 over the past 24 hours.
Today has been one for the record books as Bitcoin.info reports Bitcoin prices topping $18,000 and a market cap of over $300 billion. This newest milestone comes amid a flurry of significant all-time highs over the past 24 hours as Bitcoin climbed from $14,000 at this time yesterday to its current price of $18,053 at press time.
There is some speculation that news of the Lightning Network’s successful test yesterday, in which bitcoin was used to instantly purchase a cup of Starbucks coffee and a Yalls.org article, was at least partly responsible for the most recent flurry of buy activity and resulting price surge. While such small purchases seem insignificant, they mark a turning point in the race to solve Bitcoin’s scalability problems.
In another related first, the Lightning Network also recently performed the first atomic cross-chain swap between Bitcoin and Litecoin.
GDAX has really lead the charge with regards to western exchanges, as prices climbed to almost $20,000 before a large run of sell orders brought the price “crashing” back down to more normal levels. The website was plagued with performance issues today as well, with many users reporting that intermittent site outages due to the unusual flood of traffic.
South Korean exchange Bithumb, on the other hand, has been trading at higher prices throughout the day, often $4,000 or more ahead of western exchanges.