Bitcoin defies gravity, surges to record above $19,800 topping the 2017 high

Are we in another Bitcoin bubble? The world’s most popular cryptocurrency skyrocketed over the weekend to recover from a sell-off around Thanksgiving, notching to a fresh record high on Monday. As Bitcoin volatility returned on Monday, the digital currency surged above $19,800 for the first time in two years, topping the 2017 high.

For those who have been following Bitcoin, this is very familiar territory. On April 12, 2018, Bitcoin defied gravity and surged $1,000 in 30 minutes to above $8,000. The price surge brought back traders and fans, who once abandoned the popular cryptocurrency. However, Bitcoin later lost some of the gains later that day.

Bitcoin has nearly doubled in price since early September. Tyler Winklevoss, the co-founder of crypto exchange Gemini who is also a long-time Bitcoin bull, said he sees significant room for the crypto currency’s price to rise.

Bitcoin is not the only cryptocurrency enjoy the recent rally. Other alternative cryptocurrencies, commonly called altcoins, saw a sharp rise in values. Still, the volatility of Bitcoin, as well as the secrecy of other blockchain currencies, has prompted calls for increased regulation.