The crypto currency hit peaks above $23,000 at one point Thursday morning before easing back.

That was only 24 hours after it passed $20,000 for the first time.

Investors have been attracted by BET that Bitcoin could soon become a mainstream payment method.

Some also see it as a good hedge against rising inflation.

The currency last approached the 20,000 mark in late November, only to tumble back below $17,000.

That stoked fears off another huge collapse like that scene in 2018.

Instead, investors have piled in again, leaving Bitcoin up more than 200% so far this year.

Analysts say the rally has been boosted by open endorsements from major institutional players like US.

Ensure a mass mutual.

Previous worries about the opaque nature off the virtual currency market have also bean soothed by tighter regulation in the U.

S.

However, many investors remain wary or Bitcoin, given its history off.