Bitcoin surpassed $25,000 on December 26, according to Coinbase. However, already in the first hours of December 27, the cost of the cryptocurrency exceeded $26.5 thousand. At the time of writing, bitcoin is worth $27.2 thousand.
The bitcoin rate has updated its historical maximum several times a day. On the evening of December 26, its price exceeded $ 26 thousand, but already at the beginning of December 27, it was sold for $26.7 thousand. Now its cost is $27.2 thousand. Over the past week, the cryptocurrency is up more than 10%.
The bitcoin rate began to grow rapidly from mid-December. On December 16, it began to cost more than $20 thousand. The researchers noted that the price is rising amid news about investments by large investment companies. By that time, the growth in the value of bitcoin for three months was 100%.
Bitcoin has grown by 250% over the past 12 months, but researchers believe that profit-taking among long-term investors could lead to a decline in the price. “The steady rise in bitcoin prices has made digital currency the best asset of 2020,” they wrote to Forbes.
In 2020, Bitcoin has already broken several of its records – for example, back in early October, it cost about $11 thousand. Analysts suggest that some investors see cryptocurrency as a “safe investment in times of uncertainty.” However, other experts note that this asset remains volatile.