Bitcoin Price Briefly Touches $24,000

Bitcoin Price Briefly Touches $24,000

What Happened: Bitcoin (bitcomp) hit its all-time high Saturday at noon, Eastern Standard Time, briefly touching the $24,200 mark, according to major US crypto exchange Coinbase.

It tops off a week of highs for the leading cryptocurrency. Bitcoin crossed $20,000 on Wednesday for the first time in its history and quickly went up and settled past $23,000 on Thursday.

Why It Matters: Crypto traders and enthusiasts have been very optimistic about the future of Bitcoin. 

A Citibank managing director, Tom Fitzpatrick, recently suggested that it might reach $318,000, while Guggenheim Investments believes it’ll cross $400,000.

Price Action: Bitcoin was trading at $23,938.60 as of later Saturday afternoon, gaining 5.28% over the last 24 hours.

© 2020 Benzinga does not provide investment advice. All rights reserved.

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