Bitcoin Soars Past $68K For The First Time, Ether Hits ATH
The world’s largest and most well known cryptocurrency Bitcoin has managed to notch a fresh all time high of $68,300, making for the perfect cherry on top of the current bull run that has been taking the crypto market by storm since early October.
Bitcoin has secured gains of more than 3% in the past 24 hours, its prices having steadily risen since the launch of the first Bitcoin Exchange Traded Fund (ETF) last month. Investors anticipate these new Bitcoin linked products will drive increased interest in the digital asset, helping catapult it and other cryptocurrencies further into the mainstream.
Not to be left behind, the world’s second largest cryptocurrency Ether, as well as smaller coins have also followed suit. 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. Ether managed to climb to an impressive new high of $4,822 and has been steadily rising for days, gaining 8% in just three days.
A model measuring the reserves of the asset and predicting upcoming prices, the stock-to-flow (S2F) model from the pseudonymous analyst PlanB has been extremely accurate in its prediction of monthly closing prices of Bitcoin. This very model now suggests that Bitcoin will close November above the $98,000 mark.
At the time of publishing, BTC was changing hands at $66,800, and Ether at an all time high of $4,822.
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