The price of Bitcoin, the largest cryptocurrency, surpassed the $65,000 level for the first time since Oct. 1.
Prior to that, the crypto king scored its highest weekly close in history.
In the meantime, Ether hit yet another all-time high of $4,739.48 just hours ago, inching closer to the much-coveted $5,000 milestone.
The prices of the two largest cryptocurrencies soared sharply higher after Digital Currency Group CEO Barry Silbert tweeted about a big week looming for crypto.
His market-moving tweet has garnered more than 12,000 likes at the time of writing.
Going to be a big week
— Barry Silbert (@BarrySilbert) November 7, 2021Bitcoin (BTC): Goodbye to $120,000, Dogecoin (DOGE) Can Avoid Breakdown, Shiba Inu (SHIB) Price Shock on EdgeHarvard Economist Who Predicted That Bitcoin Was More Likely to Hit $100 Than $100K Finally Speaks OutRipple’s $606 Million XRP Transfer Sparks Hopes, Shiba Inu (SHIB) Price Can Add Zero, Don’t Buy Ethereum Dip, Says Top Trader — Crypto News Digest'Brilliant' Bitcoin Prediction Earns Legendary Trader Peter Brandt's Approval
Silbert’s influence on cryptocurrency prices shouldn’t be underestimated. In July, he warned his followers about “a dicey week” right before the Bitcoin price shed roughly 20% within two days, plunging from $35,500 to a local bottom of $28,500.
Earlier this month, venture capital giant Digital Currency Group, which controls leading crypto money manager Grayscale and several other big names, reached a valuation of $10 billion.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team