Live bitcoin updates as cryptocurrency continues record-breaking run

Bitcoin has risen to fresh new heights on Wednesday, reaching above $36,000 to take its overall market value ahead of both Mastercard and Visa.

The price surge is the latest in a nine month rally for the cryptocurrency, which has seen it rise by more than $31,000 since last March.

Other major cryptocurrencies, including ethereum (ether), litecoin and bitcoin cash have also experienced massive gains in recent months, with some analysts predicting that this may be still only the early stages of a major bull run.

The last major bull run in 2017 saw bitcoin’s price rise from a few thousand dollars to around $20,000, however it was followed by a painful correction.

The notoriously volatile market is prone to sudden movements, as was demonstrated earlier this week when bitcoin fell by around $6,000 in the space of just a few hours.

Follow all the latest news, analysis and market predictions here.

1609929770

Bitcoin market cap compared

Following the latest price surge, here’s how bitcoin’s overall market value compares to other assets:

(CompaniesMarketCap)

Anthony Cuthbertson6 January 2021 10:42

1609925017

BREAKING

Bitcoin has just surged to a new all-time high.

Anthony Cuthbertson6 January 2021 09:23

1609852710

JPMorgan strategists predict more gains to come

Bitcoin’s nine-month market surge may be just the start of a far greater price rally, according to strategists at JPMorgan Chase & Co.

A note from the investment banking giant predicted it could rise a further 4.6 times to $146,000.

It is the second bullish prediction made by analysts at a Wall Street bank in recent months, following an even more bold forecast of $300,000 in a Citibank report.

Read the full story here:

Anthony Cuthbertson5 January 2021 13:18

1609851446

Here’s what bitcoin’s recent price rally looks like in context.

(The Independent)

Anthony Cuthbertson5 January 2021 12:57

1609783888

The massive flash crash on Monday has market analysts wondering whether this is the end to the latest price rally or just a blip at the beginning of the third great bull run in bitcoin’s history.

We’ve spoken to market analysts and cryptocurrency experts to find out if there is a consensus.

Anthony Cuthbertson4 January 2021 18:11

1609783088

Bitcoin has recovered slightly from the biggest single price drop in its history, which came just hours after hitting a new all-time high.

The cryptocurrency is back trading above $30,000 and appears to have stabilised somewhat from the wild price swings that took it above $34,000 and below $29,000 over the last 24 hours.

Sergey Nazarov, co-founder of blockchain firm Chainlink, told The Independent: “With bitcoin having broken $30,000, I think it’s very likely that the asset will eventually pass $100,000 per coin.”

Anthony Cuthbertson4 January 2021 17:58

1608203594

After hitting a new all-time…