“Against this backdrop, bitcoin has benefited from its status as a branded safe haven, a perceived relative store of value and a means of remittance,” analyst Geoff Kendrick wrote. Bitcoin has gained 65% since the start of the year. It rose above $30,000 last week for the first time in almost a year. It was recently trading at $27,328, down 1.2% in the past 24 hours.
Bitcoin (BTC) May Hit $100K by Year-End, Standard Chartered Bank Says
