Bitcoin Price Jumps Above $4,800 for the First Time
The price of bitcoin has risen above $4,800 for the first time, market data reveals.
Aug 31, 2017 at 8:28 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PKOUIE2235BXTG4ORXMWNS4CPY.jpg)
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.
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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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