Bitcoin climbs to highest in 2019 as volatility recedes

Bitcoin advanced to the highest level of 2019, the latest milestone for cryptocurrencies as they claw back from a year that saw three-quarters of their market value wiped out.

The biggest digital coin on Monday rose as much as 1.6% to $4,135.60, the top intraday level since 24 December, according to weekday trading data compiled by Bloomberg. So-called alternative coins rallied more, with Dash jumping as much as 31% and Monero increasing as much as 10%.

Bitcoin is close to breaking above an intraday level set on Christmas Eve. That day marked the end of a US stocks selloff, after which the S&P 500 Index started a rally that continued through March and reversed most of the fourth-quarter rout.