Bitcoin exceeded $ 20,000 for the first time

After a long period of testing around $ 19,000, the digital currency Bitcoin on December 16 suddenly skyrocketed, officially surpassing the $ 20,000 mark to reach the highest ever.

Right now, Bitcoin is trading around $ 20,500.

According to Reuters, hedge funds in the past were concerned about the crypto market, because of concerns about the unclear legal status. Recently, however, tightening US supervision of the industry has reduced concerns for funds.

Bitcoin surged amid another haven asset, gold, which has been trending sideways and falling in price in recent months.

Bitcoin to above $ 20,500, historic high

Along with Bitcoin, a series of other digital currencies are also “resurging”. The sharp increase in a few hours has brought digital currencies up about 5-6% compared to 24 hours ago.

The total size of the crypto market has now grown to nearly $ 600 billion, of which Bitcoin alone is $ 380 billion.