On Sunday, January 3, the price for Bitcoin has reached its all-time high at 34,244.30. Also, since the middle of December, the cryptocurrency has surged 75.36%.
It is likely that the advance occurred as the financial institutions around the globe continued to show massive interest in Bitcoin as an asset class. Meanwhile, cryptocurrency enthusiasts argue that Bitcoin is replacing gold as a store of value.
Note that Dukascopy Analytics forecast Bitcoin's growth in the end of November. The reasons for the increase are listed in the Expert Commentary of November 20.