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Bitcoin Touches $69K for the First Time

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Wed, 11/10/2021 - 14:42
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Alex Dovbnya
Bitcoin has reached $69,000 for the first time. Nice.
Bitcoin Touches $69K for the First Time
Cover image via stock.adobe.com

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Bitcoin hit a new all-time high of $69,000 on the Bitstamp exchange at 2:15 p.m., extending its bullish streak after the Labor Department reported the biggest inflation jump in more than 30 years.  

Bitcoin
Image by tradingview.com

The consumer price index has soared to a higher-than-expected 6.2%. 

The flagship cryptocurrency has so far failed to smash through the aforementioned level, retracing back to the low-$68,000 range after facing massive resistance.

With stocks opening in the red and Tesla shares dipping below the $1,000 level at market open, the ongoing market correction might throw a wrench in the works for bulls.

Related
Apple CEO Says He Owns Crypto In Response to Question About Bitcoin and Ether
While Twitter is already busy writing corny 69 jokes about Bitcoin's coolest price milestone to date, the internet will probably break when the largest cryptocurrency reaches $69,420 because of the sheer meme potential of that price point.

Bitcoin is up roughly 12% this November.

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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.