Bitcoin is poised to challenge its all-time high, but do you know what the historical peak actually is?

The cryptocurrency market is eagerly awaiting Bitcoin to break its all-time high (ATH). What price point would Bitcoin need to reach to achieve this milestone? There is a precise number for historical highs like the Dow Jones Industrial Average or the S&P 500. However, when it comes to Bitcoin, there is actually no consensus in the market on its all-time high.

All-Time Highs (ATH) of Major Exchanges

The chart below shows the Bitcoin all-time highs (ATH) of various leading exchanges, compiled by Larry Cermak, the research director at The Block. It can be observed that the "Bitcoin ATH" of these exchanges varies, ranging from the lowest at $19,660 (Kraken) to the highest at $20,093 (BitMEX).

The reason for this disparity is that at that time, the infrastructure of the cryptocurrency market was not robust enough to quickly balance price differences among various exchanges.

ATH Data on Data and Media Platforms

According to data from the cryptocurrency data platform CoinMarketCap, Bitcoin reached its ATH of $20,089 on December 17, 2017. This value is a result of a weighted average by different exchanges based on their trading volumes, aiming to limit extreme price fluctuations caused by exchanges with low liquidity.

Similarly, the cryptocurrency data platform Messari defines Bitcoin's ATH also as $20,089, but explains that their ATH quote is not the absolute highest single trading price but the average calculated from the highest levels on that day or the average of price samples from the day of the ATH.

Another figure is $19,783, which comes from CoinDesk's Bitcoin Price Index and is often cited by media outlets like Forbes as the highest price Bitcoin has ever reached.

Ryan Watkins, a researcher at Messari, stated in an interview:

"The differences in index values depend entirely on the exchanges they are using and how each provider calculates prices."

So... What Exactly Is the ATH?

Neeraj Agrawal, the communication director of the cryptocurrency advocacy organization Coin Center, revealed in an interview:

"I guess 20k is the point most people are paying attention to."

Artur Sapek, the founder of Cryptowatch, a subsidiary of Kraken, agreed with this view and stated:

"Personally, I consider $20,000 as the ATH. It's a significant milestone because the ATHs vary greatly across exchanges, and the U.S. dollar has devalued since 2017. Adjusted for inflation, $20,000 seems to be a more reasonable ATH value at present."

Matthew Graham, the CEO of Sino Global Capital, expressed:

"I don't think it matters. Whatever the ATH should be measured at, we will soon surpass the old high. Everything lies ahead of us."

In conclusion, since there isn't a definitive price for ATH, considering the eagerly anticipated $20,000 mark as Bitcoin's all-time high may be a more suitable value for the community.