Cointelegraph: Bitcoin Price Hits New All-Time High at $39,000 as Powell

Bitcoin Price Hits New All-Time High at $39,000 as Powell Pushes Crypto Upwards

Bitcoin's price struck a new all-time high over $39,000 today, climbing more than 20% on the day and continuing its current upward trend.

As of press time, Bitcoin is trading at $38,657 on Bitfinex, up from its low of $33,637 on August 1. The digital currency has surged more than 400% since bottoming out at $3,800 in early April.

Bitcoin is up roughly 40% over the previous 24 hours alone. In sum, it has expanded by almost 1,000 percent within this time span.

Bitcoin pricing struck a new all-time high over $39,000 on Sunday, with the cryptocurrency rising about 15% in value in the preceding 24 hours.

The price of bitcoin has grown from $17,000 to $37,000 since the start of 2019. The market value for Bitcoin surged to more over $100 billion for the first time ever this week.

Bitcoin has breached its resistance line of roughly $20,000 and might go as high as $40,000 before it starts to show weakness.

Bitcoin's price struck a new all-time high of $39,000 on Tuesday, making it the first time since December that the cryptocurrency has touched more than $40,000.

The price of bitcoin surged to $39,000 in trade on Tuesday, according to CoinDesk statistics. This is the first time since December that bitcoin has achieved more above $40,000. It was also the highest price ever recorded for bitcoin in its nine-year existence.

Bitcoin set an all-time high of $17,362 on Dec. 17, but has dropped down over 70% since then. Tuesday's pricing is up about 65% from its price at the same time last year.