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