Bitcoin hits highest in 13 months as 2020 rally gathers steam

[webfact]

Bitcoin hits highest in 13 months as 2020 rally gathers steam

 

FILE PHOTO: Representations of virtual currency Bitcoin are seen in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

 

LONDON (Reuters) - Bitcoin jumped to its highest in over a year on Monday, adding to a 2020 rally that has seen it more than treble in price since March.

 

The biggest cryptocurrency gained 4.4% to $12,424, its highest since July 2019. Bitcoin has soared over 70% this year, making it one of the strongest performing assets.

 

Plummeting interest rates and huge bond-buying programmes by central banks across the world have boosted demand for the cryptocurrency, seen by some investors as a hedge against inflation due to its capped supply.

 

(Reporting by Tom Wilson; Editing by Tom Arnold)

 

-- © Copyright Reuters 2020-08-18

 

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[mr mr]

7 minutes ago, webfact said:

making it one of the strongest performing assets.

one of ? hahah

 

in the past 10 years there has been no better investment. period.

[ukrules]

It was around $9500 about 3 weeks ago, pretty volatile!

[Brickbat]

Ethereum has more upside and better performance . Coke have now joined the hundreds of big corporations to implement Ethereum in their business

[jollyhangmon]

5 hours ago, webfact said:

 

... adding to a 2020 rally that has seen it more than treble in price since March. ...

 

... Bitcoin has soared over 70% this year, ... 

 

 

 

Huh?? 

 

 

[Chelseafan]

4 hours ago, Brickbat said:

Ethereum has more upside and better performance . Coke have now joined the hundreds of big corporations to implement Ethereum in their business

 

Yep, I spread my risk across a few currencies and Ethererum has offered the best returns over the  past 4 months.

 

[Matzzon]

10 hours ago, ukrules said:

It was around $9500 about 3 weeks ago, pretty volatile!

You say?

[how241]

I expect bitcoin to double in price in the next year.  This price rise should drag up the price of most alt coins.  This is just my best guess and I have no info to support this statement. 

[how241]

6 hours ago, jollyhangmon said:

 

 

Huh?? 

 

 

I think they meant to write 'double' in price. Although,  triple in price would b more accurate. 

[techietraveller84]

I really wish publications would use a different graphic for Bitcoin. There has to be something that portrays it more accurately than gold-look coins featuring the Bitcoin ₿.

[WorriedNoodle]

On 8/18/2020 at 8:07 AM, Brickbat said:

Ethereum has more upside and better performance .

ChainLink seems to gaining pace as well.

[techietraveller84]

Seems like the 2020 rally has lost a lot of steam. Today's price of $10,500 is still better than the beginning of the year, but a much less exciting return than Tesla.

 

https://cointelegraph.com/news/sub-10k-bitcoin-price-caused-653m-open-interest-drop-largest-since-march

[Neeranam]

On 8/18/2020 at 5:15 AM, ukrules said:

It was around $9500 about 3 weeks ago, pretty volatile!

And 3x that now. Btc has been increasing on average 100% every year but might slow down as more get into it. 

[Heng]

What exactly is a bit-coin?

[bignok]

2 minutes ago, Heng said:

What exactly is a bit-coin?

A fake Bitcoin

[scottiejohn]

2 hours ago, Heng said:

What exactly is a bit-coin?

No one knows!

[ozimoron]

Could be a doozy on the US stock market today.

[RanongCat]

On 8/4/2023 at 11:02 AM, Heng said:

What exactly is a bit-coin?

A digital version of pork belly futures ?

[stoner]

7 minutes ago, RanongCat said:

A digital version of pork belly futures ?

350k usd bellies by the top of the next market cycle  

[RanongCat]

2 minutes ago, stoner said:

350k usd bellies by the top of the next market cycle  

uhuh

[stoner]

Just now, RanongCat said:

uhuh

if the cycle remains similar to those in the past its quite reasonable. last market it went from 3k to 70k. the math adds up. 

[RanongCat]

1 minute ago, stoner said:

if the cycle remains similar to those in the past its quite reasonable. last market it went from 3k to 70k. the math adds up. 

I have no need of interest beyond tomorrows bacon. Cheers

[stoner]

1 minute ago, RanongCat said:

I have no need of interest beyond tomorrows bacon. Cheers

yet here you find yourself in a bitcoin thread making multiple comments. 

 

spider pig spider pig. 

[RanongCat]

10 hours ago, stoner said:

yet here you find yourself in a bitcoin thread making multiple comments. 

 

spider pig spider pig. 

"spider pig spider pig. " ? Is that some sort of bitcoin terminology or just an involuntary tic ?

[stoner]

2 minutes ago, RanongCat said:

"spider pig spider pig. " ? Is that some sort of bitcoin terminology or just an involuntary tic ?

its from the simpsons movie years back.