The skyrocketing price in Bitcoin is close to the all-time high

Mumbai, Ta. 24 November 2020, Tuesday

After a gap of three years, Bitcoin has once again crossed the 16,000 per unit mark. Cryptocurrencies are seeing an improvement in the outgoing prices of financial institutions and are expected to hit an all-time high soon.

In the current year, the price of the cryptocurrency has risen by 150 per cent and in November alone, it has seen a rise of 20 per cent.

Investors are flocking to this asset class, taking advantage of the fact that most of the world's central banks have released financial stimulus during the Corona era.

Bitcoin, the top cryptocurrency in terms of market cap, crossed the 15,000 per unit mark last week.

With interest rates reaching negative levels in various parts of the world, the question for investors is where to invest their money.

If the price hike continues like this, the players are hoping that it will soon cross its all-time high of ૯૬૬૬ 15 in 2017.