Bitcoin hits $19,000 for first time in three years

bitcoin

(Reuters) – Bitcoin hit $19,000 on Tuesday for the first time in nearly three years and was just shy touching an all-time high of just under $20,000.

The world’s most popular cryptocurrency has gained around 160% this year, fuelled by a demand for risk-on assets amid unprecedented fiscal and monetary stimulus, hunger for assets perceived as resistant to inflation, and expectations that cryptocurrencies would win mainstream acceptance.

Bitcoin has gained over 37% in November alone.

Reporting by Saikat Chatterjee; editing by Thyagaraju Adinarayan

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