Bitcoin is surging exponentially: Here's what you need to know!
Hyderabad, Dec. 19 -- Extending its wild 2020 rally that has seen more than tripling in its value, cryptocurrency Bitcoin on Thursday hit an all-time high of $23,421, after having only surpassed the $20,000 milestone for the first time on Wednesday. The surge was almost 12 per cent from Wednesday to Thursday.
Notably, Bitcoin rose to over 200 per cent on a year-to-date basis and has been clocking its one-way rally after a severe crash in March that saw it lose 25 per cent amid the outbreak of COVID-19. As investors continue to lap up the new asset, the trading community is beginning to call Bitcoin the digital gold.
To put things in a specific perspective, players in India believe the bitcoin price may go up to Rs.1 crore (INR) in the s...
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