The Bitcoin bulls are back in control, with the largest cryptocurrency approaching its highest price of the year after breaching USD13,000 for the first time in two weeks.
The digital asset gained for a third day to as high as $13,154, continuing its recovery from the drop that almost pushed it below $10,000 last week. It reached a more than 18-month high of $13,880 on June 26.
Yesterday’s advance outpaced rival tokens including Ether and Litecoin. The Bloomberg Galaxy Crypto Index rose 1.5%.
An upswing in mainstream institutional interest in the blockchain and cryptocurrency industry has been cited by many proponents as having helped fuel the rebound in prices for Bitcoin and other digital assets after a 2018 slump and months of inactivity to start the year.
Others say that individual investors remain a key driver in the rally.