Bitcoin clears $8,000 as its monster year rolls on

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David Ryder/Stringer Bitcoin on Tuesday topped $US8,000 a coin for the first time since July. The cryptocurrency has now gained 119% this year. One analyst attributes this year’s surge to more people using the network. Watch bitcoin trade live. Bitcoin is having a monster year. The cryptocurrency was trading up more than 3% near $US8,065 a coin on Tuesday morning, at its best level since July. Bitcoin has now gained 119% in 2019 and has a market capitalisation of $US142 billion, according to CoinMarketCap.com. This year’s start is a big reversal from 2018, which saw bitcoin’s value plunge to nearly $US3,000 a coin from nearly $US14,000. At its 2017 peak of almost $US20,000, the digital coin commanded a market cap of more than $US327 billion. While there are many theories as to the reason for bitcoin’s revival, such as its being viewed as a safe haven and there being an…

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