Bitcoin broke $ 18,000 on Wednesday, reaching a new year-on-year peak. The rapid growth of BTC this year is driven by the demand for its perceived quality as a hedge of inflation and the expected acceptance by the general public.
The original and largest cryptocurrency last increased by 3% to $ 18,175, the highest since December 2017. It has grown over 160% this year and jumped 17% in just the last 3 days.
Bitcoin is now approaching its all-time high of just under $ 20,000, which it touched on top of its 2017 “bubble”.
The twelve-year history of a developing asset called Bitcoin is marked by dizzying price rises and equally sharp declines.
Sources: Reuters.com, WebTrader