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.

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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

2 min read Last Updated : Jan 01 2021 | 2:01 AM IST

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

Topics : Bitcoin cryptocurrency