11/18/2020, 10:17 AM (Source: TeleTrader)
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Bitcoin tops $18,000 first time since 2017

Bitcoin extended gains on Wednesday as it topped $18,000 for the first time since late 2017. Digital currencies have been on the rise recently as investors turn to crypto-assets amid the volatility in stock markets caused by the coronavirus pandemic.

Furthermore, Bitcoin's price was also boosted by PayPal allowing trading of the cryptocurrency on its platform, as well as central banks' considerations of introducing digital versions of currencies. Earlier this week, a Citibank analyst said Bitcoin could surge to $318,000 by December 2021.

After hitting a three-year high of $18,488, Bitcoin surged 8.02% to sell for $18,060.11 at 4:21 ET. The world's most widespread cryptocurrency has gained 15% over the past week and soared 150% since the start of the year.

Breaking the News / NP