BitcoinBitcoin hits $19,000 for first time in three years, all-time excessive in sight

A illustration of digital forex Bitcoin is seen on this illustration taken November 19, 2020. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) – Bitcoin hit $19,000 on Tuesday for the primary time in practically three years, homing in on its all-time excessive of just below $20,000.

The world’s hottest cryptocurrency was final up 3.2% at $18,958. Bitcoin has gained practically 40% in November alone and is up round 160% this 12 months.

Fuelling its positive factors have been demand for risk-on belongings amid unprecedented fiscal and financial stimulus, starvation for belongings perceived as proof against inflation, and expectations that cryptocurrencies would win mainstream acceptance.

Graphic: Bitcoin breaks $19,000

Reporting by Saikat Chatterjee; Extra reporting by Tom Wilson; enhancing by Thyagaraju Adinarayan