Bitcoin is soaring as traders return to work after 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 it fell back below $500 in August as traders digested the outcome. But bitcoin has gained 92.5% since then, with a good portion of that (~30%) coming since the US election.
The cryptocurrency had tumbled to below $200 in early 2015 following the collapse of MtGox and other bitcoin exchanges.
Bitcoin has only briefly traded over $1,000, and that was in late 2013.