Bitcoin soared on Wednesday to touch a fresh all-time high, as cryptocurrency continued to trade wildly. Bitcoin’s price tagged above $35,000 early Wednesday morning, according to data from Coin Metrics. Later on, the wall gains slightly. Bitcoin’s price has surged high to the highest ever point in its history.
Bitcoin’s latest all-time high comes just days after it slumped more than 10% to $29,316. That was followed by a jump of more than 300 percent in 2020 to levels above $29,000.
On Monday, JPMorgan published a note with a bold long-term price target for bitcoin, claiming that the cryptocurrency could rise to as high as $146,000 as it competes with gold as an “alternative” currency.
Many investors still believe Bitcoin is irrelevant and it’s a Bubble. Regardless of what people think in for or against Bitcoin, there’s a clear difference in the pattern of 2017 and 2020.