Bitcoin price surpasses $29,000

Bitcoin, the leading cryptocurrency by market cap, for the second time in a day touched a fresh high, rising above $29,000.

Earlier on Wednesday, December 30, the price surpassed $28,500, after which it retraced to around $27,300.

In under 12 hours, buyers recovered the losses, pushing the prices to fresh highs. At one point the price rose to $29,010, before retreating again.

BTC/USD chart. Data: TradingView.

The catalyst for the latest surge could be several developments, including the filing of a new Bitcoin ETF application in the United States by VanEck.

Also today it emerged that the Hong Kong-based GreenPro Capital is investing $100 million in Bitcoin.

Some analysts say that retail investors also contributed no less to December’s rally.

Subscribe to Forklog’s news on Facebook!