Bitcoin was trading at highs of around $15,200 gaining momentum during the U.S. election uncertainty. That's the cryptocurrency's highest since January 2018.
It's still unclear whether President Donald Trump or former Vice President Joe Biden had won the election as the vote count continued. However, Biden appears to be the favorite at publication time.
The last time bitcoin peaked was back in December 2017 when the cryptocurrency traded at around $20,000.
This year there have been a number of positive factors pushing bitcoin higher, such as the announcement that PayPal PYPL is adding features enabling users to buy and sell cryptocurrencies. Square SQ also made recent announcements adding bitcoin to its holdings.
Related Links:
As Bitcoin Hits New 2020 Highs, The Course Strikes Comparison With 2016 Election Cycle
Square Invests $50M In Bitcoin; Dorsey Sees A Currency For The Internet
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
