Investing.com - Bitcoin rallied for an eighth consecutive day on Wednesday as prices of the largest digital currency now trade near the $12,000 level.
Bitcoin surged 7.6% to $11,998.9 by 11:26 PM ET (03:26 GMT). Ethereum jumped 6.2% to $331.82, while XRP traded 2% higher at 0.47973. Litecoin climbed 1.0% to $137.312.
The world's largest cryptocurrency has now almost tripled in value this year. The rally has been fuelled by social media giant Facebook’s venture into the world of cryptocurrencies, launching its own digital currency called Libra.
Analysts are hopeful that Libra will help cryptocurrencies gain more widespread acceptance.