Bitcoin may be the biggest winner of 2017 so far

Bitcoin is having a good 2017. 

The digital currency traded at $1,029 on Tuesday, its first day of trading in the new year. The price was bitcoin's first over $1,000 in three years. 

The jump in value was attributed to increased demand in China, which is where most bitcoin is traded. Analysts speculated that more people in China were using bitcoin to circumvent the Chinese government's strict regulations on money leaving the country, BBC reported. 

SEE ALSO: The Australian government decides it's really into Bitcoin

Demonetization of high-value paper currency in India has also led some to turn to bitcoin, CBC News said.  Read more...

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