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Bitcoin Smashes Record as Price Surges to a New High of $67,000

Bitcoin Smashes Record

Created by TradeOr

3rd Party Analysis 21 Oct 2021

Key Takeaways:

  • Bitcoin rallies to a new record high of $67,000 a day after futures ETF debuts on Wall Street
  • Crypto market climbs above $2.6tn for the first time ever

What’s Today’s News in Crypto?

Bitcoin is officially off the charts and into new horizons. Seven months after a record high of $64,800, the original cryptocurrency made a fresh all-time high of $67,000 on Wednesday. The world’s largest digital token enjoyed the success of the first-ever Bitcoin ETF as it rallied to a new top.

So far in October, the performance of the leading crypto asset has been more than impressive. Bitcoin has gained more than 50% in the first three weeks of the month and more than 60% since Sept. 30.

Moreover, support from Wall Street is among the latest signs of growing adoption. Now that the Bitcoin futures exchange-traded fund is on the traditional market, millions of people can get exposure to crypto. Not only that, but it will open the door to more Bitcoin-linked ETFs and other cryptocurrency-focused financial products.

What’s the Price of Bitcoin?

The price of bitcoin retreated a bit in the early hours of Thursday’s session. The cryptocurrency changed hands at about $65,000 per coin, or roughly 3% lower from its fresh record. That said, prospects for the leading digital currency are looking bright as investors remain optimistic.

Moreover, bitcoin’s market value settled at a new peak of $1.26tn, or near the worth of e-commerce giant Amazon, valued at $1.7tn.

Ether, the second-biggest token, also rallied on Wednesday. In more detail, the Ethereum’s native coin rose 8% to reach a price of $4,140. On Thursday, ether continued its upside move and set a new high of $4,240. In other words, just about 3% away from its record of $4,390 set in May.

In conclusion, the entire cryptocurrency market reached a new all-time high valuation. The digital asset space broke above $2.6tn on Wednesday. That means all cryptos combined are worth more than Apple, the largest company in the world with a market cap of almost $2.5tn.

How to Buy Bitcoin?

Buying bitcoin has become relatively easy compared to the early days of crypto. While back then you had to know your way through complex and technical hurdles, today, it takes only a few clicks. Are you looking to purchase bitcoin? Check our comprehensive guide that will lead you through the process step by step.