.jpeg)
Bitcoin hits new record high, breaking $8,000 for the first time
On Sunday around 8:00 p.m. London time, it hit a record high of $8,101.91, according to data from industry website CoinDesk
The rally comes on the back of a huge sell-off on Sunday, November 12, where the price of bitcoin fell to around $5,500
That low, to the record high on Sunday, marks a more than 47 percent increase in the cryptocurrency's price.
And there is also potentially rising interest from institutional investors and new products coming onto the market to allow new participants access to bitcoin.