Bitcoin price hit a record high on Sunday and was up nearly 2.7 per cent at $125,689. World’s largest cryptocurrency by market value Bitcoin’s previous record was $124,480 in mid-August, buoyed by friendlier regulations from U.S. President Donald Trump’s administration and strong demand from institutional investors.
Bitcoin vs US Dollar
Bitcoin rate had risen on Friday for an eighth straight session, bolstered by recent gains in U.S. equities and inflows into bitcoin exchange-traded funds. In contrast, the U.S. dollar retreated on Friday, posting multi-week losses against major currencies, as uncertainty surrounding a U.S. government shutdown clouded the outlook and delayed key data releases, such as payrolls, critical for gauging the economy’s direction.
Bitcoin has enjoyed a strong upward momentum with investors cautious about the US government shutdown. Gains in US shares have also supported bitcoin’s rise,…
