![Bitcoin is up about 70 percent this year but is still about $8,000 away from its all-time high of approximately $20,000 set in December 2017 [File: Chris Ratcliffe/Bloomberg]](/wp-content/uploads/2020/10/322451757.jpg?resize=270%2C180)
Bitcoin, the largest digital coin, soars after PayPal announced that it would allow customers to use cryptocurrencies.
Bitcoin jumps, shy of all-time high of $20,000
The world’s most popular cryptocurrency has gained about 160 percent this year.
![Three coins representing Bitcoin cryptocurrency sit on a computer circuit board in this arranged photograph in London on February 6, 2018 [Chris Ratcliffe/Bloomberg]](/wp-content/uploads/2020/11/323613654.jpg?resize=770%2C513)
24 Nov 2020
Bitcoin hit $19,000 on Tuesday for the first time in nearly three years and was just shy of touching an all-time high of just less than $20,000.
The world’s most popular cryptocurrency has gained about 160 percent 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 more than 37 percent in November alone.
Analysts have said Bitcoin can rise during periods of uncertainty; the cryptocurrency has at times strongly gained during the coronavirus pandemic and amid the US election.
Source: News Agencies
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At $14,984, bitcoin is at its highest level in nearly two years and now some analysts are eyeing a run at $20,000.
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Bitcoin has more than doubled since December and many fans are eyeing the $20,000 level as the next barrier to breach.
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Bitcoin tops $17,000 for the first time in nearly three years.
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