Bitcoin Rallies 4% To Surpass $14,000

Bitcoin Rallies 4% To Surpass $14,000

Bitcoin gained as much as 3.9% in volatile Wednesday trading as investors flocked to risk assets.

The rally pushed prices as high as $14,257.53 before a slight retraction in the afternoon.

The $14,000 level represented a key resistance level for the world's most popular cryptocurrency, according to technical analysts.

It's the highest levels for bitcoin since January 2018, when bitcoin tumbled from its record high of nearly $20,000.

While the lack of a Democratic sweep sets up Congress for a prolonged stimulus deadlock, it also allays Wall Street's fears of a corporate tax hike.