Bitcoin is $ 19,000 for the first time in 3 years

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Reached Bitcoin $ 19,000 today, Tuesday, for the first time in nearly three years, is close to reaching an all-time high of just under $ 20,000.

And it increased more Coins The encrypted currency is popular in the world about 160 percent this year, supported by the demand for high-risk assets amid unprecedented financial and monetary stimulus measures and demand for Assets Which is considered resistance to inflation and expectations that cryptocurrencies will gain widespread acceptance.

Bitcoin won more than 37 percent in November alone. The boom is reminiscent of its journey in 2017-2018, when it rose by 1,375% to $ 20,000 before declining by 70%.

Some attribute the increase to its increased acceptance on Wall Street, including PayPal, which in October said it would allow clients access to cryptocurrencies, as well as some prominent money managers, as investor Paul Tudor Jones buys the coin as a hedge against potential inflation.

Virtual currencies do not have a serial number and are not subject to the control of governments and central banks like traditional currencies, but are only dealt with over the Internet, without a physical presence of them.

Advocates for the cryptocurrency say its rise this time will be different, as the virtual currency reverts to price levels last seen in the wake of the cryptocurrency market crash nearly three years ago.

Supporters of digital assets explain that the recent rally is not another speculative craze among retail investors. They point to growing institutional interest, and PayPal’s decision to allow customers access to cryptocurrencies and GBMorgan for digital currencies.

Nick Carter, co-founder of CoinMetrix, said according to Bloomberg: “It appears that this rally is being driven more by those with large assets, rather than a wave of retail investors.” Digital currencies have witnessed a remarkable rise since the beginning of this year, with the outbreak of the Corona virus and investors’ fear of the repercussions of the trade war between China and the United States.

In July, the number of digital currencies reached 2,322, and the market value of the 10 largest currencies was recorded, including $ 282 billion.

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