Bitcoin hits new all-time high after trading above $19,700 for the first time since 2017

• Bitcoin hit record highs on Monday, surging above $19,800 to smash its December 2017 peak.
• The world’s most popular cryptocurrency traded at $19,843 as of 10:21 a.m ET, bringing the gain for the year to 186%.
• “The Bitcoin correction didn’t last long, with the cryptocurrency having sights set on new highs once again,” a senior market analyst at OANDA said.
• Visit Business Insider’s homepage for more stories.

Bitcoin set a new all-time high on Monday, trading above $19,700 for the first time in three years.

The digital token was trading up 8% at $19,843 as of 10:21 a.m. ET on Monday, exceeding a previous record of $19,783 set in December 2017.

“The Bitcoin correction didn’t last long, with the cryptocurrency having sights set on new highs once again, with $20,000 the ultimate goal in the short-term,” said Craig Erlam, a senior market analyst at OANDA. “A move into uncharted territory and the psychological boost that would come with a move like this could propel Bitcoin aggressively higher.”

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