Bitcoin hits $19,000 for first time in 3 years

The world's most popular cryptocurrency has gained around 160% this year

Representative Image. Credit: Pixabay Photo

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 per cent 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 per cent in November alone.

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