Bitcoin has briefly topped the $28,000 level, as the world’s leading digital asset continues on its rally, climbing to a brand new all-time high virtually every hour.
The number one crypto was trading at as much as $28,300 at 14:15pm GMT before rebounding back to the current price, $27,273, according to data tracking by CoinDesk.
The token gained nearly 12 percent on a day-to-day basis, with its market cap jumping to $515 billion, ranking Bitcoin in eleventh place among major global assets such as Facebook, Apple, Visa and Tesla. Bitcoin’s dominance index reportedly exceeded 70 percent for the first time since March 2017.
Earlier this month, a report by the international data firm Chainalysis revealed that the historical resurgence in Bitcoin price was mainly boosted by institutional investors, most of whom are new to the crypto world. Big investors added $11.5 billion in bitcoins over the previous three months, which reportedly doubled the price of the crypto pioneer.
Invented 12 years ago by an unknown person or group of people under the name of Satoshi Nakamoto, Bitcoin started its trading way back in 2009 as the crypto asset based on a decentralized blockchain-based network. The system is aimed at providing secure peer-to-peer transactions that are not subject to central-bank policies or regulations.
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