Bitcoin rate breaks all-time record, nearing $20,000 as cryptocurrency recovers from March depression

The rate of bitcoin has actually struck a record high, inching toward the $20,000 mark in a dramatic healing for the world’s most popular digital currency, which has rallied more than 200 percent since March.

The cryptocurrency topped out at just over $19,850 on Monday prior to pulling back to around $19,668, according to the CoinDesk index, surging past its previous peak of $19,666, struck in late2017 The spike follows a week of volatility, seeing the rate dip to as low as $16,200 last Thursday.

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Resurgent bitcoin pushing towards all-time high after last week’s stumble

Bitcoin took a severe hit in March with the onset of the coronavirus outbreak in the US, sinking below $4,000 for a time, but has actually steadily climbed up out of the downturn, getting some 240 percent given that then.

Other significant cryptos, which usually follow bitcoin’s trends, likewise rallied on Monday, with ethereum and XRP getting by some 6 percent, while litecoin climbed up by more than 11 percent, according to CoinMarketCap.

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