The price of bitcoin has climbed above $60,000 for the first time in more than two years, as a lightning rally puts the world’s biggest cryptocurrency within touching distance of its all-time high.
Bitcoin rose as much as 12.6 per cent to hit $63,968 on Wednesday, before falling back to about $60,000. The rally has brought its gains to 42 per cent in the first two months of this year.
The rapid ascent has revived memories of the crypto bull market that pushed the token to its record peak of nearly $69,000 in November 2021, as investors pile in amid “fear of missing out” on further price rises.
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