Bitcoin’s price briefly passed above the $4,800 mark for the first time today.

According to data from CoinDesk’s Bitcoin Price Index (BPI), the price of the cryptocurrency hit a high of $4,802.74, before falling back to levels seen over the past few hours of trading.

At press time, the price of bitcoin is trading at roughly $4,762, per data from the BPI.

The push above $4,800 continued gains seen earlier today, when bitcoin once again crossed $4,700 to hit a new all-time high. That milestone was buoyed by an overall lift in cryptocurrency prices that pushed the collective market capitalization above $170 billion for the first time.

Earlier this month, Goldman Sachs chief technician Sheba Jafari wrote in a note to clients that bitcoin prices could surge above $4,800 in the trading sessions to come – though she cautioned that the push had the potential to fall to as low as $3,000 or below. At the time, the cryptocurrency was trading around $4,300.

Pole vault image via Shutterstock

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This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.