Cryptos Continue 2020 Rally As Bitcoin Breaks 10K

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 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.

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Other cryptocurrencies have gained as well, with Ethereum ETHUSD up 20% over the past five days and nearly 78% higher year to date. So far in 2020, Ripple XRPUSD is up 49%, Bitcoin Cash BCHUSD is 121% higher and Litecoin LTCUSD is up 88%.

“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, the S&P 500 SPX and the Nasdaq Composite COMP — retreated Friday, they closed Thursday at new highs.

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Read more from Mike Murphy at MarketWatch.com

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