Bitcoin back at January 2018 levels as surge continues - TechCentral

Bitcoin back at January 2018 levels as surge continues

Bitcoin continued its stellar rally on Wednesday, surpassing the US$12 000 level for the first time in almost a year and a half.

The largest cryptocurrency surged to almost $13 000, reaching a peak on Wednesday morning of $12 919.42, according to It has more than tripled this year, with the advance accelerating this month.

Cryptocurrencies have been gaining acceptance and attracting more interest from mainstream institutions, with JPMorgan Chase & Co seeing client interest in a coin for bond transactions and Facebook making plans for a cryptocurrency called libra, among other forays into the space.

The last time bitcoin climbed above $12 000 was in December 2017. It rose much higher, eventually reaching as high as $19 511 later in the month, but the surge was followed by a precipitous fall that saw it drop below $6 000 by February. All in all, in December 2017 and January 2018, bitcoin spent about six weeks above $12 000.  — Reported by Joanna Ossinger, (c) 2019 Bloomberg LP

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