Bitcoin breaks $ 27,000 cap less than 24 hours after going over $ 26,000 – RT Business News
The world’s first cryptocurrency, bitcoin, set another all-time high, surpassing $ 27,000 after hitting a previous milestone less than 24 hours earlier and days after hitting the much-anticipated 25 mark. $ 000.
It is currently trading at around $ 27,600, according to CoinMarketCap.
The world’s most popular digital currency has seen a daily increase of more than eight percent, signaling more bullish momentum that could push it to $ 30,000 and beyond. Bitcoin’s market cap also surpassed $ 500 billion for the first time, putting the cryptocurrency just under Berkshire Hathaway of Warren Buffett, the tenth largest company in the world.
The last epic rally that doubled the price of the cryptocurrency began in early November, and Bitcoin’s cumulative gains have soared over 270%. He crossed the psychological barrier of $ 20,000 on December 16th.
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Bitcoin was launched in 2009 and was the first cryptocurrency to use a decentralized blockchain-based network, enabling secure peer-to-peer transactions. At the time, the leading asset was worth less than a dollar per token.
In 2017, it saw its first noticeable increase to $ 20,000, but the digital currency lost around 80% of its value over the following months. The current bull cycle is expected to be different and more sustainable than in 2017, with many traders expecting more upside in the coming months.
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