BTC price rose 3.8% to $13,611.10 on Wednesday.
It’s now at a fresh all-time high, but the rally could be short-lived.
The altcoin market is still a volatile one, with the price of BTC hitting a high of $14,865.80 on August 1.
But since then, the price has been dropping and the latest spike is now just shy of a 20% price increase.
The rally started in mid-July, but since then it has mostly dropped below $12,000.
Today, it reached $13 and traded around $14 before falling back.
The price is now up 4.3% in the past 24 hours, and is now trading at $14.85.
A price rally on BTC, the most popular crypto-currency in circulation, is still possible.
But the fact that it has so far happened on such a small scale is encouraging.
The market has been volatile for a while now.
It has been trending downwards since mid-June, when the Chinese authorities imposed restrictions on crypto-currencies.
But this is the first time that the market has traded above $13k for several days in a row.
The Chinese government may not be interested in the market being a catalyst for an economic slowdown.
But for now, the country is not too concerned.