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.
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