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BITCOIN PRICE HIGHS.............Slice Value of Major currencies by Almost half cummulatively

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It's been a dramatic day for Bitcoin pricing.  The morning that opened with a price of $6,600 suddenly saw a momentum that took the price to an all-time high level of $7,365 before sliding downwards to $6900 at price time.

Thus Bitcoin’s five days wild price 'run' piled pressure on already sidelined altcoin markets, leading many into freefall.

The price swing may come to many as a surprise due to the intensity within a day, which goes to show the effect of market information influencing outcomes. We have seen two or more positive information this week about Bitcoin.

There was the rumored Amazon integration, the Futures announcement by the world largest futures market.  There is also the forthcoming Bitcoin Gold fork and the controversial newcomer BitConnect, opportunistically riding enthusiasm surrounding the Bitcoin Core chain.

Altcoin losses extend to Ethereum, which lost over six percent in 24 hours, while fellow fork Ethereum Classic (ETC) dropped to its lowest BTC and USD price since May.

Bitcoin meanwhile is posting highs elsewhere, its market dominance reaching 62.4 percent - a climb of 2.2 percent in the past day.

Wall Street news propulsion and feverish activity prior to the SegWit2x hard fork are combining to increase market focus solely on BTC, with an altcoin resurgence failing to materialize since August.

 Broad consensus suggests the return of alt markets must wait until after the hard fork. Bitcoin itself, however, could pull back sooner, with analysts pointing to an “inevitable pullback” towards $5,000.



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