Mubasher – Ahmed Shawky: Bitcoin rose by about 4 percent during Tuesday’s trading, breaking the $ 19,000 barrier, for the first time in 3 years.
The world’s largest digital currency boosted its gains this month to 37 percent, approaching an all-time high of nearly $ 20,000.
Cryptocurrencies are witnessing great popularity this year, amid gains of nearly 170 percent for Bitcoin alone since the beginning of the year, taking advantage of financial and monetary stimulus measures as a hedge against inflation, in addition to the widespread acceptance it has recently gained.
(Bitcoin performance since the beginning of the year, according to CoinMarketCap)
By 1:20 PM GMT, Bitcoin had risen about 3.9 percent to $ 19.24K, the highest level since December 2017.
Cryptocurrencies in the four places behind Bitcoin also saw strong gains, as Ethereum rose 1 percent to $ 595.1, maintaining the second place in terms of market value.
Ripple, which is in third place, was the best performer, with a gain of 26 percent to $ 0.610, and Tether continued in fourth place despite its stability at $ 0.999.
Bitcoin Cash snapped fifth place from Chenlink, after rising 14.7 percent at $ 337.52.
During the same time, the total market value of cryptocurrencies rose to $ 571 billion, up 5.1 percent compared to 24 hours ago.