Bitcoin climbed 11 percent into Friday to post its highest price since mid-December: one coin was worth $16,920, cross-exchange data shows.
Exchanges tracked by Coinmarketcap recorded an average trade price maximum of just under $17,000 earlier Friday before a slight correction saw Bitcoin head back towards $16,000.
The performance is encouraging for holders who have watched profits ebb as altcoin markets continue to surge. The trend marks a pause after several weeks of bearish action for BTC, which did not immediately correct following its dip from $20,000 to around $13,000 last month.
On social media, casual traders were eyeing Bitcoin’s reversal to continue, noting its impact on altcoin markets.
Alts bouncing in 3, 2, 1……
alts bounce because of this…. BTC is a reversal pattern pic.twitter.com/yTOlD8JRih
4:20 AM – Jan 5, 2018
GODFATHER OF CRYPTO
Lots of questions flying in right now about #BTC.
1. I don’t know when/IF it will keep rising. But, I think it will personally.
2. I am waiting patiently. Need patience in this game. I will be buying in when it is even lower. I believe another drop is coming.