Let us all agree on a nice number before bitcoin sets a new record. Because when the AEX or the Dow Jones reaches a record, that is easy to grasp. There is only one number. But with bitcoin that is a bit more difficult. After all, there is not one dominant stock exchange that determines what the highest price ever is. You also notice this on social media, where questions are being asked, and rightly so.
What is the highest price ever?
Neeraj Agrawal of Coin Center, asked the question on Twitter:
‘What is the ATH actually … I mean it, I don’t know the number’.
Agrawal talks about the dollar value of Bitcoin, a difficult figure to establish because bitcoin is traded for different prices on each exchange.
Different exchanges, different ATHs
Larry Cermak of The Block compiled this list:
But according to CoinMarketCap, the highest point ever is $20,089, reached on 17 December 2017. According to CoinMarketCap’s methodology: ‘The price of each cryptoasset is a volume-weighted average of market pair prices for the cryptoasset’. So they also look at the trading volume to avoid wild price fluctuations on exchanges with low liquidity.
Messari also uses $20,089 as the highest bitcoin rate, and explains: The ATH quote is not necessarily the absolute highest single trading price. Due to the nature of the historical data we analyse, we cannot always look at every trade for an asset. For some assets, the listed ATH may refer to the highest daily average of all time, or a price example on the day that the highest score was ever achieved’.
Ok, this doesn’t make it any clearer hey. Another common amount is USD 19,783. This amount comes from the CoinDesk Bitcoin Price Index, and is often quoted by mainstream media.
CoinDesk uses an index number, but it depends entirely on which exchanges they use and how they calculate the prices.
Only important for media
Artur Sapek from Cryptowatch, goes for 20,000 dollars.
Personally, I think about $20,000 is a good milestone to consider an ATH, because the ATHs varied so much on every stock exchange and because the dollar has lost some value since 2017. If you correct for inflation then I think 20K is a reasonable ATH figure to use’.
Paul Veradittakit of Pantera Capital: ‘I never thought the price really mattered, except for the media, mainstream, fundraising and recruitment. Having said that, it comes in handy when the price goes up and I consider Bitcoin ATH to be $19,783’.
Let us keep it at USD 20 000. A nice round figure that regular media can write an article or report about.
Because let’s be honest, it may seem very important now, but in a while, the current ATH will be a fart in the wind.