Bitcoin soars above $23,000 as mammoth 2020 rally drives new record highs

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The climb brings bitcoin's year-to-date gains above 200% and comes just one day after the token traded above $20,000 for the first time.

climbed to a new all-time high on Thursday as the cryptocurrency's extraordinary 2020 momentum continued through the end of the year.

The world's most popular cryptocurrency leaped to a 24-hour high of $23,770.85 on Thursday, marking a 20% gain over the past day. The climb comes just one day after bitcoin topped $20,000 for the first time, and brings the token's year-t0-date gains above 200%. Bitcoin advocates have cited the adoption of cryptocurrencies among institutional investors and financial-services companies as a major boon for the token this year. Investing giants including Paul Tudor Jones and Mike Novogratz praised the cryptocurrency earlier this year and forecasted bigger gains to come. The token's rally accelerated in October after

 

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