Where next for bitcoin after record-breaking year?

Bitcoin’s record-breaking and volatile 2020, aided by increased popularity among individual investors, could be set for calmer times according to specialists, despite the new year starting with more sizeable swings.

Having quadrupled in price last year also on strong institutional interest, the leading virtual currency soared by 20 per cent in just 72 hours to reach an all-time high $34,792 on Sunday.

On Tuesday around 1630 GMT it stood at $32,570.

Since mid-December, “you finally saw (individual)… investors come in”, noted Antoni Trenchev, co-founder of specialist cryptocurrency platform Nexo.

Bitcoin purchases have opened up to the wider public thanks to the ability to buy fractions of one whole unit, while Paypal account holders can now use the virtual currency for online transactions.