Bitcoin is soaring

Bitcoin is soaring as traders return to work following the extended Christmas break. The cryptocurrency is trading up 3% to more than $929 and is at its best level in three years.

Bitcoin has seen a volatile 2016 amid uncertainty surrounding the Brexit vote in June and the US presidential election in November. The cryptocurrency rallied from $432 at the start of the year to more than $750 in the days ahead of the UK’s vote to leave the European Union, but then fell back below $500 in August as traders digested the outcome. Since then, Bitcoin has gained 92.5% with a good portion of that (~30%) coming since the US election.

Bitcoin has only briefly traded over $1,000, and that was in late 2013.

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