Bitcoin has experienced a remarkable price resurgence in recent months, rising to a record all-time high after more than two years of sliding prices.
The latest rally of the notoriously volatile cryptocurrency comes amid a flurry of institutional investment news, which has taken btc above $34,000 (£25,000). A flash crash saw a sudden market cool off on Monday, though some analysts still predict positive movement in 2021.
Other major cryptocurrencies – including Ethereum (ether) and bitcoin cash – are also climbing in value, though regulatory issues mean Ripple (XRP) has bucked the trend and crashed spectacularly.
Follow all the latest news, analysis and expert price predictions here.
Here’s what bitcoin’s recent price rally looks like in context.
Anthony Cuthbertson5 January 2021 12:57
The massive flash crash on Monday has market analysts wondering whether this is the end to the latest price rally or just a blip at the beginning of the third great bull run in bitcoin’s history.
We’ve spoken to market analysts and cryptocurrency experts to find out if there is a consensus.
Anthony Cuthbertson4 January 2021 18:11
Bitcoin has recovered slightly from the biggest single price drop in its history, which came just hours after hitting a new all-time high.
The cryptocurrency is back trading above $30,000 and appears to have stabilised somewhat from the wild price swings that took it above $34,000 and below $29,000 over the last 24 hours.
Sergey Nazarov, co-founder of blockchain firm Chainlink, told The Independent: “With bitcoin having broken $30,000, I think it’s very likely that the asset will eventually pass $100,000 per coin.”
Anthony Cuthbertson4 January 2021 17:58
After hitting a new all-time high on Wednesday, the price of bitcoin continued to rise on Thursday to $23,586.
A mini flash crash has since knocked around $1,000 from the cryptocurrency’s value but it continues to trade above $22,000, according to CoinMarketCap.
It represents a 20 per cent gain in just 24 hours, which is all the more remarkable when considering how much one bitcoin was worth back in March.
Rising from below $5,000, bitcoin has seen a nearly 500 per cent gain over the last nine months.
Anthony Cuthbertson17 December 2020 11:13
Snowden’s take on bitcoin
Here’s what the world’s most famous whistleblower has to say about the fortunes of the US dollar compared to cryptocurrency.
Anthony Cuthbertson7 December 2020 17:12
The price of bitcoin has remained relatively stable over the weekend, hovering between $19,000 and $19,500.
Meanwhile, the US dollar hit its lowest level since April 2018. Some experts have also predicted 2021 to be a bad year for fiat currency.
Anthony Cuthbertson7 December 2020 10:09
Bitcoin rally continues
More gains overnight mean bitcoin is now trading close to $19,500.
The cryptocurrency is less than a couple of hundred dollars away from the all-time high it reached last week. It means that nearly anyone who has ever invested in bitcoin in its 10+ year history – and still holds it – has either broken even or made money.
Speaking of investment, a new report by the deVere Group has found that two-thirds of millennials prefer bitcoin to gold as a safe-haven asset. Here’s what deVere Group CEO Nigel Green has to say:
Anthony Cuthbertson4 December 2020 08:54
New all-time high in sight
Bitcoin is once again approaching an all-time price high, rising 2 per cent over the last 24 hours to $19,400.
Ripple (XRP) and Ethereum (ether) are also up by a couple of per cent, building on massive gains over the last few months.
Ripple CEO Brad Garlinghouse appeared on CNN to give his take on a “wild year” so far.
Anthony Cuthbertson3 December 2020 15:01
Bitcoin investment up 221% in November
Bitcoin continues to hover around the $19,000 mark, offering a bit of respite to take stock of the gains it has made over the last month.
The cryptocurrency was trading at $13,000 at the start of November, meaning it rose by more than a third in value over just 30 days.
While analysts say the majority of these gains were made thanks to increased institutional investment, retail investors also significantly increased their trades in November, according to newly released figures from online trading platform eToro.
Bitcoin investment was up 221 per cent compared to October, while Ripple (XRP) saw more than 1,000 per cent gains.
Anthony Cuthbertson2 December 2020 12:04
Market dips but remains steady
The price of bitcoin has taken a slight tumble, dipping below $19,000.
It represents a 1 per cent dip over the last 24 hours, and the same amount over the last week. Traders and investors will likely welcome a moment of relative calm.
Anthony Cuthbertson1 December 2020 19:37