The controversial digital asset, which was originally promoted as an alternative to national currencies such as the dollar, surged as much as 4.8% to US$18,480 yesterday
NEW YORK: Bitcoin is quickly approaching the record highs that spurred a mania among investors almost three years ago that ended in a violent crash.
The controversial digital asset, which was originally promoted as an alternative to national currencies such as the dollar, surged as much as 4.8% to US$18,480 yesterday – before tumbling by US$1,000 within about 20 minutes after 1:30pm Hong Kong time. It has more than doubled this year, spurring memories of the 1,375% rally in 2017 that preceded a 70% decline the following year. Still, advocates and even skeptics are saying it may continue to push higher.
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