Bitcoin has seen a notable revival in prices in recent months and has risen to a record high after more than two years of falling prices.
The most recent rally in the notoriously volatile cryptocurrency comes amid a flurry of news of institutional investment nearing its high of $ 20,052 (£ 15,025) in December 2017.
Other major cryptocurrencies – including Ethereum (Ether), Ripple (XRP), and Bitcoin cash – are also rising in value, but remain far from their record highs. In a flash crash, the expected market cooled off, although some analysts are still forecasting positive moves through Christmas.
Follow the latest news, analysis and price predictions from experts here.
The market is falling, but remains stable
The price of Bitcoin has fallen slightly to below $ 19,000.
This equates to a 1 percent decrease in the last 24 hours and the same amount in the last week. Traders and investors are likely to welcome a moment of relative calm.
Anthony CuthbertsonDecember 1, 2020, 7:37 p.m.
Bitcoin is now worth more than the world’s largest investment bank
Bitcoin continues to trade near its all-time high this morning and costs between $ 19,400 and $ 19,500 on all major exchanges.
The total market capitalization of the cryptocurrency also hit record highs yesterday, rising to over $ 360 billion for the first time in its history.
This makes Bitcoin the 18th most valuable commodity in the world and is ahead of the largest investment bank in the world, JPMorgan Chase.
Anthony CuthbertsonDecember 1, 2020 7:51 am
Experts and analysts react to all-time highs
It turns out that some of the analysts we spoke to last week were right – even if the new all-time high came a little earlier than expected.
We reached out to more experts and analysts for their reaction to today’s ATH hit.
Short-term risk high, but longer-term picture “very promising”
$ 50,000 before Christmas?
Anthony CuthbertsonNovember 30, 2020, 5:24 p.m.
Bitcoin price is reaching an all-time high
Anthony CuthbertsonNovember 30, 2020, 3:43 p.m.
Bitcoin bounces back
Bitcoin price soared over the weekend, rising around $ 2,000 to bring it back to its record high.
Anthony CuthbertsonNovember 30, 2020 9:53 AM
Bitcoin is still struggling to generate over $ 17,000 in return, although investors are likely to welcome this period of relative calm.
The cryptocurrency has dropped 10 percent since that time over the past week, but hasn’t changed more than 1 percent in the past 24 hours.
Anthony CuthbertsonNovember 28, 2020 9:06 am
Latest bitcoin price predictions
We reached out to more market analysts and cryptocurrency experts today to find out what impact the recent crash had on their general outlook for the weeks and months ahead.
The medium to long-term price outlook remains relatively positive, but potential investors are also warned to be cautious. The emerging market continues to be plagued by extreme volatility and, as we’ve seen this week, fortunes can be made and lost in a matter of hours.
However, this is what the experts say:
“Record high before Christmas”
Anthony CuthbertsonNovember 27, 2020 4:41 PM
Calm after the storm
The price of Bitcoin seems to have bottomed out, at least for the time being. The cryptocurrency has been hovering around the $ 17,000 mark since its breathtaking crash 24 hours ago.
Other major cryptocurrencies – including Ethereum (Ether), Ripple (XRP), and Bitcoin cash – largely mirror the fate of Bitcoin, making markets relatively calm this morning.
Anthony CuthbertsonNovember 27, 2020 8:48 am
The coronavirus pandemic outbreak proved a critical test of this theory as investors sought safe havens due to geopolitical uncertainty and economic instability.
Gold saw its price rise steadily over the year, although its performance is relatively unremarkable compared to Bitcoin. Even with today’s price drop, the world’s most valuable cryptocurrency is worth more than twice as much as it is in March.
We have compiled this table to illustrate the fate of gold and “digital gold”.
Anthony CuthbertsonNovember 26, 2020 4:32 PM
We contacted various market analysts and cryptocurrency experts to hear their thoughts on the latest sell-off.
Here is a selection of the best shots of the market crash:
“A welcome cool down”
“A new Bitcoin all-time high that is likely before the end of the month”