Bitcoin climbs above $3,400, headed for biggest daily rise in nearly three weeks

Bitcoin rose sharply on Monday, climbing above $3,400 in a move traders ascribed to heavy buying on Japan and Hong Kong-based exchanges.

The original cryptocurrency jumped as much as 11 percent on the Bitstamp platform and was headed for its biggest daily rise since Nov. 28.

Bitcoin has fallen around 80 percent from its record high last December. In the last three months it has fallen nearly 50 percent.