Bitcoin hit a fresh record high on Monday, continuing the rally from the weekend thanks to strong Japanese demand.
The price of bitcoin hit $4,330.71, setting a fresh all-time high and surpassing the record $4,225.40 hit on Sunday, according to data from industry website CoinDesk.
In the last week alone, bitcoin has added over $15 billion in market capitalization. And year-to-date, bitcoin is up over 320 percent.
Bitcoin three-month performance
Source: CoinDesk
There are four major drivers of the current rally.