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Technology

Bitcoin Price Hits All-Time High At $68,000 As Crypto Market Rallies

Oluwaseye Ogunsanya November 10, 2021 13


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World’s largest cryptocurrency by market capitalisation, Bitcoin, has risen to a fresh record high of $68,000.

According to data obtained from coinmarketcap.com, the price of the cryptocurrency traded 4.1 percent higher on Tuesday afternoon, reaching $68,013 by 3:41 p.m.

The last record set by Bitcoin was in October at $67,000 mark.

Bitcoin has continued to gain acceptance worldwide as another option of payment to fiat currency.

It has received endorsements from Elon Musk, the world’s richest man and Tesla CEO; Mastercard, among others.

The Bank of New York Mellon Corp., an American investment banking services holding company, had announced that it would hold, transfer and issue Bitcoin and other cryptocurrencies for institutional customers.

Since the beginning of October, Bitcoin has seen a bullish run, with the crypto market in total adding nearly $1 trillion to its total value in one month.

The total market capitalisation of the crypto market currently stands at $2.94 trillion.

Ethereum, the second-largest cryptocurrency by market capitalisation, also reached a record high of $4,833, surpassing the $4,800 level for the first time.

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