Bitcoin (Briefly) Hit A Record High Of More Than $11,000

Bitcoin is having another moment in the spotlight, but we still don't really know how the cryptocurrency is going to fare in the long-run.

On Wednesday, Bitcoin hit an all-time high of more than $11,000. By Thursday, it had fallen to around $9,000. That drop may seem like a lot, but the cryptocurrency started the year at a little under $1,000.

A Rival Bitcoin Was Just Created From Within

In an effort to improve on bitcoin's transaction speed, a group has now created a new cryptocurrency — "bitcoin cash" — using bitcoin's data.

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Bitcoin's volatility is very well-known by now. Experts say that's because the digital currency isn't well-regulated or widely traded by people with market experience. This also makes the value of Bitcoin difficult to determine.

But the cryptocurrency is clearly gaining ground — and attention. It came up during the White House press briefing Thursday, and press secretary Sarah Sanders said it was something the administration was "keeping an eye on."