Bitcoin Price Jumps Above $4,800 for the First Time

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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.

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