Bitcoin Hits All-Time High of $31,000 Before Dipping to Under $30,900
Sputnik / Evgeny BiyatovBusiness12:23 GMT 02.01.2021(updated 16:19 GMT 02.01.2021) Get short URLby Evgeny Mikhaylov233Subscribe International Mikhaylov. Sputnik International

The cryptocurrency has broken all-time records since the beginning of December, its price surging past its 2017 results, amid the weakening of the US dollar.

 Bitcoin spiked to over $32,000 on Saturday, rallying almost 10 percent to yet another record high within hours after hitting the $30,000 psychological watershed.

According to CoinMarketCap website, which calculates the average off more than 20 exchanges, the cryptocurrency was trading at $31,862 by 16:09 GMT. Binance, a major crypto exchange, had the world’s most popular cryptocurrency reach $32,169.

Earlier in the day, Bitcoin reached a new high, trading at $30,000 on Saturday. CoinMarketCap stated that at 12:21 GMT Bitcoin grew 2.50 percent to $30,094 US, while on Binance, the largest crypto exchange by transaction volume, it gained 2.85 percent, reaching $30,145.

Later in the day, the price surpassed $31,000, but then fell back to $30,900.

The cryptocurrency reached $19,650 in December 2017 and then lost most of its value, falling below $4,000 in November 2018. However, it started regaining ground over the past years.

REUTERS / Dado RuvicRepresentations of virtual currency Bitcoin are seen in this picture illustration taken taken March 13, 2020.

Launched in 2009, Bitcoin was the first cryptocurrency to use a decentralised blockchain-based network. At the moment, it accounts for approximately 71 percent of the world’s rising cryptocurrency market. Its value is based on a “mining” process, so BitCoin is not subject to any central bank policies or regulations.



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