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A woman touches an ATM for the digital currency Bitcoin in Hong Kong on December 18, 2017.
Anthony Wallace | AFP | Getty Images
BTIG strategists say cryptocurrency has come of age and bitcoin is expected to hit $ 50,000 by the end of 2021.
Bitcoin hit a new record on Monday, hitting its 2017 high of $ 19,800, according to data from Coin Metrics. The volatile cryptocurrency topped $ 19,000 last week but dropped to around $ 17,000 at the end of the week before recovering over the weekend.
Strategists started hedging digital assets last week and said the digital currency market is very different than when the frenzied trade led to a maximum “blow-off” in 2017. Since then, it has been accepted by major investors, corporations and governments, especially China. Bitcoin also has a finished supply of around 21 million.
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