Bitcoin rockets past $18,000. The all-time high is in sight

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Bitcoin briefly surged above $18,000 on Wednesday, having passed the $15,000, $16,000 and $17,000 milestones in the past few days. The record high for bitcoin is just below $20,000. The total value of all the bitcoins in circulation is now more than $300 billion — also near an all-time high.The cryptocurrency, which has more than doubled in value this year, has picked up steam lately for a variety of reasons. Bitcoin, like gold, has benefited from a weaker dollar. Investors increasingly view bitcoin as a viable alternative to paper, government-backed currencies. The dollar could remain in the doldrums for awhile — especially since most market experts expect the Federal Reserve to keep interest rates at zero for the foreseeable future.”There is a lot stimulus happening globally,” said Rich Rosenblum of GSR Markets, a crypto trading firm. He noted that the devaluation of the dollar and other currencies could push bitcoin even higher.Top investors like hedge fund managers Stanley Druckenmiller and Paul Tudor Jones have embraced bitcoin as an investment lately. Financial technology giants Square (SQ) and PayPal (PYPL) are endorsing it as a viable form of payment. “This bull run is different than 2017. We’re seeing adoption from major players,” said Alex Adelman, CEO …

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