Bitcoin surges above $35,000, hitting new high


Hong kong (Web Desk): Bitcoin traded above $35,000 for the first time in Asia on Wednesday, rising to a high of $35,879.

The world’s most popular cryptocurrency had crossed $20,000 for the first time ever almost three weeks ago on Dec 16, 2020.

Bitcoin’s blistering rally saw a massive flow of coin to North America from East Asia, fuelled by hunger for bitcoin among bigger and compliance-wary US investors.

Glassnode, which provides insight on blockchain data, said long-term holders of bitcoin had been selling the virtual currency after it reached the November record peak. It noted however that this was overall a long-term bullish signal rooted in previous price trends.