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  /  Forex   /  Bitcoin hits highest in 13 months as 2020 rally gathers steam
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Bitcoin hits highest in 13 months as 2020 rally gathers steam

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Forex, Top News
imageForex9 hours ago (Aug 17, 2020 12:15PM ET)

(C) Reuters. FILE PHOTO: Representations of virtual currency Bitcoin are seen in this picture illustration taken

LONDON (Reuters) – Bitcoin jumped to its highest in over a year on Monday, adding to a 2020 rally that has seen it more than treble in price since March.

The biggest cryptocurrency gained 4.4% to $12,424, its highest since July 2019. Bitcoin has soared over 70% this year, making it one of the strongest performing assets.

Plummeting interest rates and huge bond-buying programmes by central banks across the world have boosted demand for the cryptocurrency, seen by some investors as a hedge against inflation due to its capped supply.

Bitcoin hits highest in 13 months as 2020 rally gathers steam

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