MOSCOW (Sputnik) – The world’s most popular cryptocurrency, Bitcoin, has hit a new all-time high of more than $25,000, trading data shows.
On Binance, the largest cryptocurrency exchange by trading volume, Bitcoin was trading at over $25,000, as of 03:36 GMT, but its price has since sunk below this level. As of 03:50 GMT, Bitcoin’s price stood at $24,908.
The cryptocurrency broke its all-time records earlier this month, with several dramatic changes: on 17 December, it rose almost 20 percent in a single day and subsequently reached $24,000 by 20 December – only to sink back to trading at $22,124 on Monday, 21 December.
Representations of Bitcoin and U.S. dollar banknotes are seen in this illustration taken January 6, 2020.
Bitcoin was launched in 2009 and became the first cryptocurrency to use a decentralised blockchain-based network. It is not subject to any central bank policies or regulations, deriving its value through a “mining” process and is transferable through peer-to-peer transactions recorded by a blockchain.
At the moment, Bitcoin accounts for approximately 65.6 percent of the world’s cryptocurrency market.
Sourse: sputniknews.com
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