Bitcoin Tops $66,000 After Logging Sixth Straight Week of Gains

Bitcoin Tops $66K

Created by TradeOr

3rd Party Analysis 08 Nov 2021

Key Takeaways:

  • Bitcoin price jumps 4% to top $66K early Monday as crypto players enter the trading week
  • Ether makes a new all-time high today as the price soars above $4,760 per coin

What’s Today’s News in Crypto?

The global cryptocurrency market is shifting gears to enter another week of volatile trading. With this in mind, the prices of major digital tokens float higher as the market environment remains strongly positive.

That said, crypto traders and institutional investors are looking with excitement into the week ahead. In more detail, leading cryptocurrencies are sitting at or near their all-time highs, positioned to extend their gains.

Ether, for example, has been on a tear over the past several months. In other words, the unrelentless rally in the Ethereum token pushed its price to a record this morning.

More precisely, Ether surged to an all-time high of $4,764 in the early hours of today’s market session.

Currently, the native token powering the Ethereum network gravitates toward the area of $4,730 per coin.

What’s the Price of Bitcoin?

Bitcoin, in the meantime, hovers near $66,000 as the first Monday deals benefitted the token. Moreover, new buying momentum helped lift the asset’s price to levels about 2% away from its record set in October. Since the original cryptocurrency hit a record of $67,000, the digital asset has been rather muted until today’s upside swing.

Its valuation has been keeping firm above $1.2 trillion, or a market share of a little over 43%. This means that bitcoin owns almost half of the entire cryptocurrency market capitalization.

To this end, the whole crypto space is worth a staggering $2.85 trillion. It’s worth nothing that earlier this month, the crypto market jumped to an all-time high of roughly $2.9 trillion.

How to Buy Bitcoin?

Buying bitcoin today is no longer as troubling and complex as it was in the early days. Now, everyone who wants to own the original token can easily do so with a few simple steps. All you have to do is visit our Buy Bitcoin Guide. Check it now to find out how you can get yourself a piece of the digital money that is changing the world as we speak.

What is the Future of Cryptocurrency?

Looking ahead, researchers and strategists are projecting bright days for Bitcoin and cryptocurrencies. More and more institutional investors are looking to get access. Banks and other Wall Street mainstays are clamoring to offer cryptos.

To this end, a recent article on the Institutional Investor says that studies show seven in ten institutional investors plan to own crypto. More specifically, they are looking to diversify into digital assets in order to stay competitive.

Against this backdrop, retail traders could easily get into the market before the big money from Wall Street arrives.