Cryptocurrencies
Bitcoin Rallies Above $19,000 After Biggest Rout Since Pandemic
- Token climbs after last week’s plunge from near record levels
- New institutional interest is boosting the crypto industry
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Bitcoin clawed back all of its losses from the biggest rout since March, showing a resiliency in a cryptocurrency rally that’s outperformed most major asset classes in 2020.
The most-traded digital coin rose over the weekend and added almost 5% more on Monday to $19,109. That topped its peak closing level reached last week, before prices started tumbling. A Bloomberg gauge of the biggest cryptocurrencies is up 13% from Friday.