Bitcoin Jumps Over $68K, Ether Pops to $4,800 as Rally Extends

Bitcoin Jumps Over $68K

Created by TradeOr

3rd Party Analysis 09 Nov 2021

Key Takeaways:

  • Bitcoin and Ether notch fresh all-time highs early Tuesday, extending their record runs
  • BTC hits $68,480, while ETH climbs above $4,800 as crypto market cap peaks over $3tn

What’s Today’s News in Crypto?

Crypto traders and investors all over the world celebrate the new all-time high of Bitcoin today. Early on Tuesday, the orange coin pushed 5% to the upside and broke above its previous high of $67,000 set in October. Moreover, the price of bitcoin topped $68,000 for the first time ever and set a record of $68,480 per coin.

Ether, on the other hand, is leading the gains among alternative tokens. The native coin of the Ethereum’s blockchain rallied to a new record of $4,840 apiece. Along the way, the price surpassed the previous high of $4,660 set earlier this month.

Both bitcoin and Ethereum have been on a tear lately. In more detail, since October, the original cryptocurrency has gained about 65% to current market price. Meanwhile, the Ethereum token has rallied roughly 70% to trade at current all-time high levels.

As a result of the major gains in the leading tokens, the cryptocurrency market is now valued above $3 trillion. In other words, more than Microsoft, the largest company in the world, worth about $2.5 trillion.

What’s the Price of Bitcoin?

Presently, the price of bitcoin gravitates above $68,000 per coin. With this in mind, the leading token has retreated a bit since it jumped to its new record earlier today.

Over the past four days, bitcoin has been in a consistent climb. During that period, its price has added more than 12%.

Furthermore, bold projections for the future of cryptocurrency put bitcoin’s price above $100,000. JPMorgan, for example, is still sticking to its prediction that bitcoin will hit $146,000. Short-term price target, however, is set at $73,000 by the end of the year.

How to Buy Bitcoin?

As broader acceptance is growing rapidly on a global scale, bitcoin continues to break records. This said, make sure to check our Buy Bitcoin guide to see how easy it is to buy bitcoin now.