Bitcoin Flirts With $19,000 As Institutional Interest Grows

Bitcoin Flirts With $19,000 As Institutional Interest Grows

Bitcoin prices neared $19,000 today, after climbing from roughly $17,600 yesterday. (Photo by ... [+] Nicolas Economou/NurPhoto via Getty Images)



NurPhoto via Getty Images

Bitcoin prices approached $19,000 today, moving closer to hitting a fresh, all-time high at a time when institutional investors are increasingly taking an interest in the space.

The world's largest digital currency by market value reached as much as $18,956.34 around 5:45 p.m. EST, according to CoinDesk data.

At this point, it was up close to 8% from the recent low of $17,593.17 it hit yesterday morning, additional CoinDesk figures show.

Further, the digital asset was trading roughly 5% below the all-time high of $19,920.53 it attained earlier this month.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Bitcoin has spent much of the last few weeks fluctuating between $18,000 and $20,000, and the latest rally took place after the cryptocurrency fell below $17,600 yesterday and then proceeded to climb.



When explaining these latest gains, analysts pointed to technical support and the impact of recent developments