Investors seek safe haven because of fears over the economic impact of outbreak

Bitcoin has bounced back above $10,000 (£7,731), fuelled by investors seeking a safe haven amid fears over the economic impact of the coronavirus.

On Sunday, bitcoin rose above $10,000 for the first time since September and by Wednesday was trading at $10,335 on the Luxembourg-based bitcoin and cryptocurrency exchange Bitstamp. It marks a significant shift in fortunes for the 10-year-old cryptocurrency, which hit a low of $3,196 in December 2018.

Bitcoin and other cryptocurrencies have joined gold as a safe-haven asset at times of economic or political uncertainty.

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