The price of the cryptocurrency rose to $67,700 today with Bitcoin and Ether, the second largest cryptocurrency by market cap, hitting $4,800. Both have more than doubled since June and are up nearly 70% against the dollar since early October. According to CoinGecko, the move helped raise the total market capitalization of the cryptocurrency to above $3 trillion.
The world’s largest digital cryptocurrency by market cap rose nearly 3% to $67,778, slightly down from the last record set on October 20 at $67,000. The market for digital assets, a little over a decade old, has nearly quadrupled from its 2020 year-end value. Bitcoin is up over 130% year-on-year.
Bitcoin’s ride has been volatile as the token fell below $30,000 in June amid criticism of its energy consumption and China’s cryptocurrency crackdown. It then began to recover partly as the crypto sector adjusted to wider areas of China.
(with inputs from agencies)
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
.