Bitcoin Sets New All-Time High—But What’s the Real Record Price?

The crypto industry Enjoyed today On the news, Bitcoin broke its previous record all-time high (ATH) price. But the coin that broke that record — and what number it was to hit in the first place — depends on who you ask.

Decrypt, for example, showed a price above $69,324 following several close calls since Monday, according to news from American crypto exchange Coinbase on Tuesday morning. Coinbase's previous all-time high is listed below the $69,000 mark.

Ro Shirole, chief commercial officer at Saxet, a Bitcoin mining company, said Decrypt Tracked the price of Bitcoin using CoinDesk today Bitcoin index (XBX), which uses prices from multiple exchanges and weights with a proprietary algorithm.

According to XBX, the price to win today was $68,991, due in November 2021. And according to the same source, BTC today briefly rose to $69,209 and then below $61,000. But a win is a win, and this seems pretty unequivocal, doesn't it?

Not very fast. Per CoinGeckoAnother leading cryptocurrency price tracker, BTC, reached $69,044 in 2021. And today, according to CoinGecko's own algorithm based price aggregate results on several monitored exchanges, the coin rose as high as $68,912 before falling.

So, if CoinGecko is your source of truth: no ATH for you.

How can there be such a difference between carefully designed price tracking algorithms that only exist to agree on a single number? It comes down to how these various ownership equations choose to determine the value of Bitcoin at any given time – and there is no one right answer.

Mesari Research previously stated that “ATH price is not the absolute highest single trade price.” They spoke Decrypt. “Due to the nature of the historical data we analyze, we cannot always look at every trade for an asset. For some assets, the quoted ATH may represent an all-time high daily average, or an all-time high daily price sample.” [occurred]He said.

Due to the simplicity a little more than human interest, many crypto traders and media outlets have chosen the clean $69,000 bar Bitcoin needs to pass today to reach a new all-time high.

That feat has been accomplished on many exchanges, including Binance and Coinbase. On others, it wasn't. But perception is everything in crypto, and BTC's short-term ATH following the anniversary's rare crash shows that the market is ready.

But what is Bitcoin's all-time high? Beyond its procedural significance, is it a matter of absolute truth whether or not that figure is exceeded?

“I don't put too much value on a specific number,” Sachset Shirol said of bitcoin's all-time high.

Rather, he is concerned with more practical matters.

“When flipped, [I look at] Where the perceived support appears to be at the lower end,” he added.

Edited by Andrew Hayward.