Bitcoin jumps to three-year high as Covid crisis changes investor outlook


Bitcoin, the world’s best known cryptocurrency, jumped above $17,000 to a three-year high on Tuesday as a growing number of investors backed it as an alternative to other assets.

The currency climbed more than 4% to $17,492, its highest level since December 2017 and more than four times higher than the price in March when heavy selling sent its value below $4,000.

Analysts said the pandemic had encouraged investors to review the long-term outlook for bitcoin and other cryptocurrencies such as Ethereum, Litecoin and XRP, which have all increased in value in recent months.



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