Bitcoin hits $19,000 for first time in 3 years, all-time high in sight

Bitcoin has gained nearly 40% in November alone and is up around 160% this year. Fuelling its gains have been 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.


Reuters | Updated: 24-11-2020 15:52 IST | Created: 24-11-2020 15:43 IST
Bitcoin hits $19,000 for first time in 3 years, all-time high in sight
Representative image. Image Credit: Pixabay

Bitcoin hit $19,000 on Tuesday for the first time in nearly three years, homing in on its all-time high of just under $20,000. The world's most popular cryptocurrency was last up 3.2% at $18,958. Bitcoin has gained nearly 40% in November alone and is up around 160% this year.

Fuelling its gains have been 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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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