Bitcoin rallied to a new record high on Wednesday, smashing through its 2017 peak, as rising interest from professional investors helped prices recover from a deep trough.
The cryptocurrency traded as high as $19,510 after rushing 75 per cent higher in the past three months and adding 400 per cent since the heavy drop in riskier assets in March this year. The previous record set in December 2017 was at $19,458, according to Refinitiv data that track trading on several exchanges.
Analysts said growing interest from professional investors could make this rally more sustainable than the last peak three years ago, which was followed by an 80 per cent crash over the following year.
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