Bitcoin climbed above $34,000 for the first time on Sunday, extending a record-breaking rally in the volatile cryptocurrency that delivered a more than 300 per cent gain last year.
With trading in key financial markets yet to commence in 2021, bitcoin has resumed its dizzying ascent, rising more than 10 per cent in the first few days of January. By late afternoon in London on Sunday, it had given up some of its early gains to dip just below $33,000.
“Even the most bullish of bitcoin advocates could not have foreseen such a meteoric rise in price in such a short space of time,” said Marcus Swanepoel, chief executive of Luno, a London-based cryptocurrency platform. History suggests a small pullback could follow, he added.
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