Business Standard

Bitcoin hits another high at $29,000, value quadruples in 2020

It has advanced almost 50 per cent in December, on track for its biggest monthly gain since May 2019.

bitcoin, cryptocurrency, digital
Premium

The largest cryptocurrency climbed to as high as $29,292 before pulling back slightly to trade at $28,972 as of 11.30 am in Hong Kong on Thursday

Eric Lam | Bloomberg
Bitcoin vaulted above $29,000 to reach yet another record level on the last day of 2020, showing no signs of slowing down its torrid December rally.

The largest cryptocurrency climbed to as high as $29,292 before pulling back slightly to trade at $28,972 as of 11.30 am in Hong Kong on Thursday. It has advanced almost 50 per cent in December, on track for its biggest monthly gain since May 2019.

“Key to this rally is that it has been sustained over several weeks,” said Matt Long, head of distribution and prime products with crypto brokerage OSL in Hong Kong. “If we

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in