Business Standard

Recovering from biggest one-day decline, Bitcoin advances 6% to $35,842

A range of factors have been cited for Bitcoin's ascent, showing how hard it is to pinpoint the proximate cause for the latest bout of volatility

Photo: Bloomberg
Premium

It plunged as much as 17% on Monday. The digital coin quadrupled in 2020.

Dave Liedtka and Eric Lam | Bloomberg
Bitcoin jumped to another all-time high on Wednesday, just two days after registering its biggest one-day decline since March.

The world’s largest cryptocurrency advanced as much as 6% to $35,842, surpassing the previous high of $34,792 set on Jan. 3. It plunged as much as 17% on Monday. The digital coin quadrupled in 2020.

A range of factors have been cited for Bitcoin’s ascent, showing how hard it is to pinpoint the proximate cause for the latest bout of volatility. Some traders pointed to a JPMorgan Chase & Co. long-term price forecast of as much as $146,000, while others cited

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