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Bitcoin Blasts Past $68,500, Hitting New Record High

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Tue, 11/09/2021 - 04:32
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Alex Dovbnya
The price of Bitcoin has surpassed the $68,500 level for the first time
Bitcoin Blasts Past $68,500, Hitting New Record High
Cover image via stock.adobe.com

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Bitcoin, the oldest and biggest cryptocurrency, hit a new record high of $68,564 on the Bitstamp exchange at 3:58 a.m. UTC. 

BTC
Image by tradingview.com

It is up 11.73% since the start of November after logging a 42.26% price increase in October.

The flagship coin is now worth $1.289 trillion, and it's on the verge of surpassing the market cap of silver.

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Bitcoin's market dominance has spiked to 43.8% because of the price increase.

The crypto king touched $67,000 for the first time on Oct. 20, the day after ProShares's "BITO" exchange-traded fund launched in the U.S.

After enduring a 15% correction, Bitcoin swiftly recovered from the drop.

The most recent surge comes after Digital Currency Group CEO Barry Silbert teased "a big week" for the cryptocurrency market.      

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.