Cryptocurrencies continue their rally in 2020
The price of bitcoin topped $10,000 on Sunday for the first time since September, as the leading cryptocurrency continues its rally in 2020.
Bitcoin BTCUSD, -2.58% was at $10,129 late Sunday, according to Coindesk, after surging more than 41% year to date. Bitcoin’s market cap has risen to $183.4 billion, according to Coinmarketcap.com.
Other cryptocurrencies have gained as well, with ethereum ETHUSD, -3.06% up 20% over the past five days and nearly 78% higher year to date. So far in 2020, Ripple XRPUSD, -2.99% is up 49%, bitcoin cash BCHUSD, -0.34% is 121% higher and Litecoin LTCUSD, -3.68% is up 88%.
From January: Bitcoin prices are kicking off 2020 just like they ended 2019 — outperforming the stock market
“This breakout is the real deal. Fundamental investment activity is backing this $10k breakout,” Willy Woo, general partner at Adaptive Capital, tweeted Sunday about bitcoin’s bull run.
The crypto rally coincides with new record highs on Wall Street; while all three benchmark indexes — the Dow Jones Industrual Average DJIA, -0.94% , the S&P 500 SPX, -0.54% and the Nasdaq Composite COMP, -0.54% — retreated Friday, they closed Thursday at new highs.