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Bitcoin Price Breaks Above $24K: New All-Time High Set

Bitcoin doesn’t seem to have any intentions of slowing down. After it breached the coveted $20,000 mark earlier this week, the primary cryptocurrency is on its way up, charting new highs almost daily.

  • Bitcoin’s price just surged past $24,000 for the first time in history. With a current daily high of $24,217 on Bitstamp, this is also the new all-time high of the cryptocurrency.
  • With this, BTC returns to price discovery and high volatility in the following hours or even days is perhaps to be expected.
  • This move came after a few days of calmness and consolidation where bitcoin was trading at around $23,000.
  • With the exception of a few more notable moves, the price kept around this level, but things took a turn for the better today.
  • At the time of this writing, Bitcoin is trading at about $23,900 with a notable $7% increase in the past 24 hours alone.

    btcusd_chart
    BTC/USD. Source: TradingVIew
  • Things are looking even more impressive for the past week as the cryptocurrency charted massive gains of more than 30% in the last seven days.
  • The entire market is painted in green today as large-cap altcoins are also marking notable increases, adding more than $35 billion to the capitalization in the past 24 hours.
  • It’s also worth noting that Bitcoin is increasing its market dominance as the index currently stands at slightly below 66%.
  • This means that altcoins are failing to capture any serious grounds as their value relative to BTC is either stagnant or decreasing.
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About The Author

George Georgiev

Georgi Georgiev is CryptoPotato’s editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi’s passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn’t looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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