Ethereum hits new record, bitcoin hits 3-week high

Bitcoin rose to an all-time high on Monday. While experiencing positive news and inflation fears, Ethereum hit a new record. Bitcoin surged as high as $66,538 while approaching the old record level of $67,016.50.

Ethereum is up 58% since the beginning of October. Also, due to developments in the USA, bitcoin increased by about 51%. “Financial institutions want to be a part of it, regulators don’t want to push it too hard,” said Kyle Rodda, analyst at broker IG Markets. “We’re almost past the inflection point where it’s part of the system and it’s going to be very, very difficult to recover.”

In addition, Australia’s largest bank announced that it will offer crypto trading to its retail customers. There were positive developments regarding Bitcoin in other countries as well. A week ago, Eric Adams, Mayor of New York, said he would receive his first three paychecks in bitcoin. In the USA, the mayor of Miami made a similar statement.

Countries and many municipalities around the world are planning to make their cities “centres of the cryptocurrency industry”. We see that crypto technology is growing very rapidly.

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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility