Bitcoin has set a new record - over $ 68K - what's going on?
Bitcoin on Tuesday at about 02:10 Moscow time broke the previous all-time highs of about 67 thousand dollars
Nov 9, 2021
1 min read
Anna BakkerNews analyzer

The first cryptocurrency set a new value record - more than 68.4 thousand dollars.

Over the past three days, BTC has added about $ 8,000 (over 13%).

Bitcoin's strong rally began on Monday morning, when Bitcoin broke through early November highs just above $ 64K and rallied more than $ 3K by mid-day. Cryptocurrency market capitalization exceeded $ 3 trillion for the first time in history.

The past all-time high was set by BTC on October 20. The first cryptocurrency took 20 days to set a new record. Last time it took more than 6 months.

The jump in bitcoin on Monday came at the same time as Digital Currency Group and Grayscale founder Barry Silbert announced that there is “an important week ahead,” ttrcoin writes. What exactly Silbert meant is still unknown.

It was reported last week that Digital Currency Group has sold more than $ 10 billion worth of shares to investors like SoftBank and Google. Prior to that, Digital Currency Group's valuation remained a mystery, as the company has raised just $ 25 million since its founding six years ago. ...

Also, the US Securities and Exchange Commission (SEC) has confirmed the start of consideration of an application to transform the world's largest bitcoin fund, managed by Grayscale, into an ETF.

Whales are actively increasing their investments in BTC, writes RBC. According to Santiment, large bitcoin holders, whose addresses contain from 10 thousand to 100 thousand coins, bought 43 thousand BTC for $ 2.8 billion. An active period of cryptocurrency accumulation can cause its sharp rise. Over the past 25 days, whales have bought 93 thousand bitcoins.

Earlier, the investment bank JPMorgan called the fair value of bitcoin $ 35 thousand.

The long-awaited bitcoin Taproot update will be activated this week after 872 blocks, or roughly 6 days, writes.

Zimbabwe could be the next country after El Salvador to accept Bitcoin as legal tender. Its citizens were among the first in the region to use BTC due to the 2015 monetary reform, which resulted in the government ditching its own depreciated national currency.

“The jump in bitcoin after a lengthy consolidation paves the way for $ 83K, which corresponds to a 161.8% increase from late September to mid-October. Investors in the crypto market must be prepared for this portion of the growth to be realized quite quickly, ”notes the GravityPlus analyst team.

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