Bitcoin Price Frantically Surges As Crypto Market Push Towards High Record
It’s the beginning of a new business week and some crypto investors are already smiling to the bank.
The cryptocurrency market is continuing a rapid rally that has taken ether to its highest ever price and saw bitcoin racing towards records.
This is the latest surge in a month of positive news for the cryptocurrency. They are driven by a number of developments within the market, such as an exchange-traded fund launched last month, as well as concerns from outside, including concerns about inflation.
Bitcoin was at $66,425 at the time of publication on Monday morning. This was an 8 percent increase over the past 24 hours, and took it closer to the record $67,016 set on October 20.
Ether rose 4.5 percent in the morning, taking it to record highs as it continued to rise.
The overall market was up 4.7 percent, according to tracking website CoinMarketCap. Trading volume rose by 15 per cent during the day.
But those gains didn’t come on all coins. Some of the hyped cryptocurrencies – such as Solana and the new Shiba Inu coin – struggled, with losses throughout the day.
Most, however, were up. This includes Dogecoin, the meme currency now valued at $3.8 million, up 13 percent on Monday morning.
If you have plans to buy any of the crypto coins in the market right now, we urge every potential buyer to beware of the increased risk to avoid great loss.
