Bitcoin Price Already Up 25% in 2020 After Hitting $9,000

Bitcoin hit $9,000 on Jan. 17 as technical metrics continued to break both local and all-time records.

At press time, a slight retracement had sent the pair slightly lower to $8,900, with 24-hour returns still at 3% and weekly performance stronger at almost 16%. Bitcoin holders are currently sitting on monthly gains totaling almost 35%.Bitcoin 1-day price chart.

For regular Cointelegraph contributor filbfilb, despite Bitcoin's bullish overall movements, the next close would be crucial in determining short-term trajectory.

Bitcoin price vs. 200-day moving average, 2018-present.

Regardless, Bitcoin was exhibiting multiple trends to excite analysts as the week drew to a close.

Hash rate, a measure of the computing power dedicated to validating the Bitcoin blockchain, hit a new all-time high on Thursday.

While figures vary, monitoring resource Coin Dance put Bitcoin's hash rate at 149 quintillion hashes per second.

Also making fresh progress was overall interest in Bitcoin, with data from Google Trends showing worldwide searches for the term "Bitcoin" at their highest since late October.

Altcoins continued their highly varied bullish price action as Bitcoin hit two-month highs.

The overall cryptocurrency market cap was $245.6 billion, with Bitcoin's share at 66%.Keep track of top crypto markets in real time here.