Bitcoin jumps to new all-time high, surpassing January prior record
Bitcoin rose to a new all-time high on Wednesday, breaking its January record.
The price of the flagship cryptocurrency was last higher by 2% at $108,955.10, according to Coin Metrics. Earlier, it rose as high as $109,857.
At one point, bitcoin had erased its gains, after Treasury yields spiked and stocks fell to session lows.
“Bitcoin’s new high has been concocted by an array of favorable ingredients in the macro cauldron, namely softer U.S. inflation numbers, a de-escalation in the U.S.-China trade war and the Moody’s downgrade of U.S. sovereign debt, which has put the spotlight on alternative stores of value like bitcoin,” said Antoni Trenchev, cofounder of crypto exchange Nexo.
Bitcoin hit a new record…
