Bitcoin’s record high is within sight after sharp recent rally

Bitcoin is flirting with a run toward its all-time high after jumping more than 90% since a low in July.

The largest cryptocurrency was trading little changed just above $57,000 as of 10:07 a.m. in London, some $7,700 shy of its April record. A recent rally in digital tokens like Bitcoin and second-ranked Ether contrasts with the travails of assets such as stocks, bonds and gold amid a bout of jitters in global markets.

Record highs for Bitcoin are possible, maybe at around $80,000 to $85,000 based on chart patterns, said Vijay Ayyar, head of Asia Pacific with crypto exchange Luno in Singapore. That’s providing $50,000 holds as a rough floor for the virtual currency in the short term, he added.