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Bitcoin hits highest in 13 months as 2020 rally gathers steam


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Bitcoin hits highest in 13 months as 2020 rally gathers steam

 

2020-08-17T161527Z_1_LYNXNPEG7G15B_RTROPTP_4_CRYPTO-CURRENCIES-BITCOIN.JPG

FILE PHOTO: Representations of virtual currency Bitcoin are seen in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

 

LONDON (Reuters) - Bitcoin jumped to its highest in over a year on Monday, adding to a 2020 rally that has seen it more than treble in price since March.

 

The biggest cryptocurrency gained 4.4% to $12,424, its highest since July 2019. Bitcoin has soared over 70% this year, making it one of the strongest performing assets.

 

Plummeting interest rates and huge bond-buying programmes by central banks across the world have boosted demand for the cryptocurrency, seen by some investors as a hedge against inflation due to its capped supply.

 

(Reporting by Tom Wilson; Editing by Tom Arnold)

 

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-- © Copyright Reuters 2020-08-18
 
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4 hours ago, Brickbat said:

Ethereum has more upside and better performance . Coke have now joined the hundreds of big corporations to implement Ethereum in their business

 

Yep, I spread my risk across a few currencies and Ethererum has offered the best returns over the  past 4 months.

 

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On 8/18/2020 at 5:15 AM, ukrules said:

It was around $9500 about 3 weeks ago, pretty volatile!

And 3x that now. Btc has been increasing on average 100% every year but might slow down as more get into it. 

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