The price of bitcoin hit record highs over the Christmas period and touched $28,500 yesterday, setting it on track for its longest monthly winning streak in more than a year.

The cryptocurrency has been rising in recent months, with the run of returns over October, November and December so far being its longest stretch since the middle of 2019.

The price has fallen by 4 per cent today and currently stands at $26,596 per coin, but this is still roughly $10,000 more a coin than a month ago and year lows in March which saw it dip below the $4,000 mark.

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