Bitcoin value ‘will climb higher’ but volatility remains

The record rise and subsequent fall this week shows that while many analysts remain confident a $20,000 valuation is just a matter of time, the jury is still out on the stability of cryptocurrencies as a whole

27th November, 2020
Bitcoin value ‘will climb higher’ but volatility remains
Bitcoin is sold as the equivalent of digital gold, an asset that is finite, valuable and safe. Picture: Getty

Bitcoin fell by just under 13 per cent on Thursday after surging to an all-time high just 24 hours earlier, creating debate around the long-term stability of the cryptocurrency.

Bitcoin traded as high as $19,510 on Wednesday, exceeding the previous record price of $19,458 recorded in December 2017.

Now trading at $16,973, it has risen by roughly 50 per cent in the past three months and by close to 140 per cent so far this year. The sudden drop following...

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