Bitcoin breaks through $68,000 and continues to hit a record high

In the intraday trading on November 9, Bitcoin hit a record high again, surpassing $68,000 per coin for the first time. Up to now, it is reported to be 68,406 US dollars per piece, an increase of 4.6% in the day.


Along with Bitcoin, it also set new highs with Ethereum ETH , which exceeded $4,800 per coin for the first time. Thanks to capital flows, good news and inflation concerns, BTC has risen by about 58% and ETH has risen by about 61% since October .

According to data from Coin Gecko, the global cryptocurrency market value exceeded US$3 trillion on November 8, and it was approximately US$3.08 trillion as of 12:00 Beijing time. Among them, the market value of BTC accounts for 41.6%, and the market share of ETH is 18.5%.

wEXnhNjbNXJnV75hduswKhJ9jxG0oOSm49Ezz5F7.pngData shows that the global market value of cryptocurrencies reached 1 trillion US dollars in February this year, and has exceeded 2 trillion US dollars in May.

Analyst PlanB tweeted that Bitcoin’s long-term momentum is rising rapidly. Kyle Rodda, an analyst at brokerage IG Markets, said that as traders prepare to deal with inflation, real yields continue to fall, increasing the attractiveness of non-interest-paying assets such as gold and cryptocurrencies. In addition, the investment sentiment in the industry has also been good.

In recent weeks, the Singaporean authorities have expressed a positive attitude towards cryptocurrency, and Australia’s largest bank has indicated that it will provide cryptocurrency transactions to retail investors. Last week, the new mayor of New York, Eric Adams, stated that his salary for the first three months will be paid in Bitcoin and expressed his intention to make New York the “center of the cryptocurrency industry”. Prior to this, the Mayor of Miami also made a similar commitment.

Posted by:CoinYuppie,Reprinted with attribution to:
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