HONG KONG: Bitcoin vaulted above US$29,000 to reach yet another record level on the last day of 2020, showing no signs of slowing down its torrid December rally.
[HONG KONG] Bitcoin vaulted above US$29,000 to reach yet another record level on the last day of 2020, showing no signs of slowing down its torrid December rally. Read more at The Business Times.
Bitcoin touches US$29,000 for fresh record high in banner year
Eric Lam, Bloomberg News VIDEO SIGN OUT
Bitcoin vaulted above US$29,000 to reach yet another record level on the last day of 2020, in a fitting end to a groundbreaking year for the worldâs largest digital currency.
The cryptocurrency climbed to as high as US$29,292 before pulling back slightly to trade at US$29,043 as of 11:51 a.m. in London Thursday. It has advanced almost 50 per cent in December, on track for its biggest monthly gain since May 2019.
âKey to this rally is that it has been sustained over several weeks,â said Matt Long, head of distribution and prime products with crypto brokerage OSL in Hong Kong. âIf we do see a break to the downside, it will be instructive on the direction of first-quarter flows whether we see institutions continue to buy on a potential dip.â
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