Cryptocurrencies are surging again, with the Bitcoin price on Friday breaking $US15,000 for the first time since January 2018 after a nearly 10 per cent move overnight.
The volatile token has gained about 50 per cent in the past month, going from around $US10,600 in early October to briefly reach $US15,920 around noon on Friday before retreating back down to where it sits now around $US15,500.
Henrik Andersson, chief investment officer with Melbourne-based crypto-asset investment firm Apollo Capital, says there could be a lot more further upside.
“We think there’s a good chance we will see a new all-time high in Bitcoin this year,” Andersson told Stockhead on Friday.
The digital asset traded close to $US20,000 back in December 2017 but only held there briefly, dropping to around $US11,000 by January 2018 and around $US3,700 by December 2018.
But its value has more than tripled since hitting a one-year low in March, when risk assets of all sorts sold off at the height of coronavirus fears.
Read more: https://stockhead.com.au/news/cryptocurrencies-are-mooning-again-can-the-bitcoin-price-hit-a-new-all-time-high/