You are here: Home » Markets » News
Business Standard

Bitcoin breaks $18,000 as rally powers on, all-time high in sight

Bitcoin is now close to its all-time high of just under $20,000

Topics
Bitcoin

Reuters  |  London 

bitcoin, cryptocurrency
he emerging asset's 12-year history has been peppered with vertiginous price rises and equally sharp crashes

on Wednesday broke through $18,000 to hit a new year-to-date peak as its blistering 2020 rally, driven by demand for its perceived quality as an inflation hedge and expectations of mainstream acceptance, powered on.

The original and biggest cryptocurrency was last up 3% at $18,175, its highest since Dec. 2017. It has gained over 160% this year, and has jumped 17% in the last 3 days alone.

is now close to its all-time high of just under $20,000, which it touched at the peak of its retail investor-fuelled 2017 bubble.

The emerging asset's 12-year history has been peppered with vertiginous price rises and equally sharp crashes.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 18 2020. 14:51 IST
RECOMMENDED FOR YOU
.