Bitcoin’s unbreakable new record has risen to new highs with a whopping of $67,000 for the first time on Monday. World’s largest cryptocurrency Bitcoin has climbed as high as possible, surpassing its previous record on October 20. At the same time, the world’s second-highest cryptocurrency also hit a high record with its market value which is above $4,800. Both cryptocurrencies have doubled their worth in the last few months. Bitcoin, the oldest cryptocurrency, set a fresh new record within three weeks after the digital coin, launched on October 20. Ether also increased its value due to the highest burn rate of tokens and a fresh burst of new money which helped dominate the market, contributing $3 trillion to the cryptocurrency market for the first time, according to the data from CoinMarketCap.
Bitcoin has increased up to 6.5% over the past 24 hours. Meanwhile, Ether made a 2.9% raise. Freddie Evans, Sales Trader at UK based digital asset broker GlobalBlock stated, “The price of ether is increasing with help from the continuing burning reducing supply and anticipation for eths move to proof of stake in the new year moving ether to a far less energy-intensive system expected to reduce ethereum’s energy usage by 99%.”
Bitcoin is increasingly recognized by several investors because the store value increased like gold, reported by CoinDesk.