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.

  

• 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.