Having successfully defended $16,000 earlier this week, bitcoin regained bid tone today and clocked a fresh record valuation above $17,800.
The cryptocurrency rose to a new lifetime high of $17,801.94 at 10:30 UTC, erasing the previous record high of $17,631.42 set on Dec. 12, as per CoinDesk's Bitcoin Price Index (BPI).
Bitcoin (BTC) has spent a better part of the last week trading undulating roughly sideways amid sharp gains in alternative currencies. The cryptocurrency fell to $16,000 a couple of times, before rising 8 percent in the last 24 hours. The repeated rebounds from $16,000 levels are likely evidence of a strong "buy the dip" mentality among traders.
That said, the price chart analysis shows that bitcoin could make a push towards the $20,000 mark ahead of the BTC futures by listing this Sunday.