Bitcoin made history by hitting a new all-time high on Tuesday
According to CoinMarketCap, the price of bitcoin rose by 3.37 percent over the past 24 hours to $67,520.02 in 0735 hours.
- Last Update:Nov 09, 2021 8:06 AM IST
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Bitcoin made history by touching a new record high on Tuesday. Continuing the rally in the crypto space, the world’s largest cryptocurrency has surged above $67,500 in the past 24 hours. According to CoinMarketCap, the price of bitcoin rose by 3.37 percent over the past 24 hours to $67,520.02 in 0735 hours. Bitcoin last recorded a record high on October 20th at just under $67,000. The boom in cryptocurrencies has pushed the market capitalization to above $3 trillion.
The price of bitcoin rose sharply after the much-anticipated debut of the first bitcoin ETF on the New York Stock Exchange in October. The fund is the fastest ETF to reach $1 billion in assets, according to data from Bloomberg. The new exchange traded fund introduced by ProShares marked a long-awaited milestone for crypto investors and fueled the bitcoin rally.
Bitcoin, a decade-old digital coin, has gained over 130 per cent this year. The value of bitcoin has quadrupled from its 2020 year-end value.
“Bitcoin is up 8 per cent over the past week, and is seeing strong inflows and volume at current levels which is a strong fundamental signal. November seems to have done well by picking up the bull run-torch from October. Bitcoin has done well. fell by almost 14 percent in the U.S. to a low of $57,653. If it breaks out and closes above the all-time high, we can expect the price to rise further towards the $75,000-mark. Most market participants continues to be bullish on bitcoin, and the next few days are crucial,” said ZebPay Trade Desk
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