. . Bitcoin (BTC) continued its massive rally on Tuesday, as it crossed the critical $ 18,000 level late in the day.. As of 11:26 AM. M. ET, the world's major cryptocurrency, trades 9. 25% higher in the subsequent 24-hour period at $ 18,172. 05. What happened: This brings the market valuation of Bitcoin to $ 337 trillion. Among other cryptocurrencies, Chainlink (LINK) is up 10. 94% at $ 14. 14 at the time of writing. Ethereum rose (ETH) 6. 42% at $ 490. 88. The largest stable coin by trading volume, Tether (USDT) traded at a $ 1 target price with a 24-hour trading volume of $ 58 billion.. Bitcoin Cash (BCH), a Bitcoin solid business, which saw its second hard event last week, rose by 2. 23% off at $ 257. 32. Bitcoin's 24-hour trading volume is $ 43. 9 billion at the time of writing, and cryptocurrency exchanges are gearing up to cope with increased traffic on their platforms. Coinbase CEO Brian Armstrong said the exchange office is working hard to add additional capacity for both servers and customer support to cope with increased traffic.. Why it matters: This is the highest level Bitcoin has traded at in three years, after it reached an all-time high above $ 20,000 in December 2017. Several prominent analysts expect Bitcoin to surpass this milestone in the current bullish trend. OKCoin's chief operating officer told CoinDesk earlier this month that Bitcoin (BTC) will likely see "minimal resistance" on the way to $ 20,000, which could be reached before Christmas.. Citibank analyst Thomas Fitzpatrick has a more optimistic estimate of engagement. According to Fitzpatrick, digital assets could reach levels above $ 300,000 before the end of next year. Others warn of bullish sentiment, citing the volatility that Bitcoin has shown in the past. George McDonough, managing director of KR1, has warned that "Bitcoin could surprise" and there is a possibility that the trading cycle will soon wane.. See more of Benzinga * Click here for option deals from Benzinga * Netflix is "very bullish" in Asia * Jack Ma's Ant Group could see its valuation cut in half due to the IPO banned, analysts project (C) 2020 Benzinga. Com. Penanga does not provide investment advice. All rights reserved.