Bitcoin Soars Past $68K For The First Time
A new all-time high for the world’s largest cryptocurrency Bitcoin was notched early on Monday after the coin blew past $68,300 for the first time ever.
Bitcoin has managed to gain over 3% over the past 24 hours, with its price having been on the rise since the launch of the first Bitcoin Exchange Traded Fund (ETF) last month. Investors anticipate that these new Bitcoin linked products will create increased interest in the digital asset, helping catapult it and other cryptocurrencies further into the mainstream.
Renewed confidence in Bitcoin and other cryptocurrencies has traditional financial institutions like JP Morgan issuing a groundbreaking pricing forecast of $146,000 for the token in the long term.
This momentous event coincided with the total market capitalization of cryptocurrencies hitting an impressive $3 trillion.
Unsurprisingly, Ether and smaller coins followed suit as they have been since markets have been bullish since early October. Ether’s surge has also come alongside a highly-anticipated upgrade on their networks, one that is set to make the Ethereum blockchain more efficient and less energy exhaustive.
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