Bitcoin soars 7 percent to surpass $20K

Bitcoin broke above $20,000 on Tuesday for the first time in about a week, as cryptocurrencies bounced, along with other risk-sensitive assets, in Asian trade.

The biggest cryptocurrency by market value, bitcoin, was up more than 5% at $20,286. The second-biggest, ether, rose 4% to a one-week high of $1,389.

In the broader market the dollar eased slightly after soaring to fresh heights on Monday.

Bitcoin’s value, which reached an all-time high of more than $64,000 in November, has plummeted.

The market capitalization of cryptocurrencies has fallen by two-thirds during that period — from a high of $2.8 trillion to just $972.7 billion.