New York, Nov 18, 2020 – Bitcoin is now close to its all-time high of just under $20,000, which it touched at the peak of its retail investor-fueled 2017 bubble.

“It is not out of the question for the crypto to hit its all-time high of $20,000 this side of Christmas,” said Simon Peters, analyst at investment platform eToro.

“The crypto industry has consolidated, matured and is seeing real traction with institutional investors. Investors are using bitcoin as an inflationary hedge to combat the prospect of continued government stimulus.”

The asset’s 12-year history has been peppered with vertiginous price rises and equally sharp crashes.