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

Within 24 hours, the value of Bitcoin fell by about 20 percent.

By: Casey Mendoza

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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.

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."