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Home / Markets / Stock Markets /  Bitcoin jumps past $19,200, all-time high again in focus

Bitcoin jumped past $19,000 on Monday, moving closer to its all-time record after a sharp tumble last week checked its 2020 rally.

The most-traded digital coin rose over the weekend and added another 5.6% on Monday, reaching as high as $19,220, near its record $19,666. A Bloomberg gauge of the biggest cryptocurrencies is up 12% from Friday.

Bitcoin’s plunge drew particular attention because it began just hours after the currency failed to set a new intraday record. Strategists at JPMorgan Chase & Co. said that while the recent tumble cleared some speculative “froth," further declines remain possible.

Recouping sharp losses is not unusual for Bitcoin. The last time it dove 10% in one day, May 10, it took just four days to recover.

Bitcoin’s more-than-150% rally this year coincides with a steady flow of investments by institutions into the coin and into crypto infrastructure, from trading systems to custody. The latest was from Guggenheim Partners LLC, which said in a filing Friday it might invest up to 10% of its $5.3 billion Macro Opportunities Fund in a Bitcoin trust.

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