Bitcoin has surged to within striking distance of the record high it set three years ago, but some analysts cautioned that further gains would leave the price “screaming” for a major correction.
On Wednesday, bitcoin traded as high as $18,492 after an explosive run in which it has jumped more than 50 per cent in 30 days, Refinitiv data show. Bitcoin peaked in December 2017 at $19,458, before suffering a spectacular crash that left the market dormant for years.
This time, bitcoin could touch new records, according to Joel Kruger, a currency analyst at LMAX Exchange, who said that if that happened, prices could be on course for a sharp fall. Traders said volatility remained high.
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