On Monday Bitcoin jumped to its highest in over a year, referring to a 2020 rally that has seen it more than acute in price since March.

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The biggest cryptocurrency gained 4.4% to $12,424, its highest since July 2019, where as Bitcoin has soared over 70% this year and making it one of the strongest performing assets over a year.

Decrease rapidly in value interest rates and huge bond-buying programs by central banks across the world have boosted demand for the cryptocurrency, seen by some investors as a hedge against inflation due to its restricted supply.

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