Bitcoin just hit $17,000 for the first time in almost 3 years

Bitcoin is on a tear this year.The cryptocurrency just hit $17,000 — a level it hasn't breached in nearly three years — continuing a wild run that's reminiscent of its monster rally in 2017.The price of bitcoin was up over 4% in the last 24 hours, trading at $17,030 and hitting its highest point since Jan. 7, 2018, according to data from industry website CoinDesk.Industry insiders say that bitcoin's climb this year — which has seen it rise 137% year-to-date — is down to a number of factors, including a wave of Covid-related government stimulus and interest from big-name investors like Paul Tudor Jones and Stanley Druckenmiller."The gap between the crypto world and traditional financial institutions has closed dramatically," Charles Hayter, CEO of crypto market data provider CryptoCompare, told CNBC."The result is that incumbent players are now fine to play in the digital asset markets. The narrative that is compelling…

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