Bitcoin jumped above $29,000 to hit another record high on the last day of 2020, at the occasion of a groundbreaking year for the world's largest digital currency.
The cryptocurrency jumped as high as $29,292 before easing slightly to trade at $29,043. It advanced nearly 50% in December, on track for its biggest monthly gain since May 2019.
"The key to this rally is that it has continued over a period of several weeks," said Matt Long, head of distribution and primary products at the crypto-broker OSL in Hong Kong. "If we see a break to the downside, it would be helpful about the direction of first quarter flows, if we see institutions continue buying on a potential dip."
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