Singapore — Bitcoin’s furious run is starting to look more and more like it did at the height of crypto-mania two years ago.

The virtual currency surged as much as 14% on Wednesday, topping $12,900 for the first time since January 2018, and bringing its gain since late Friday to about 30%. The digital asset has climbed more than 200% since December, prompting many investors to ignore the 74% drop in 2018 that followed the parabolic 1,400% surge in 2017.

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