Magical Trade
Monday, June 5, 2023
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

Bitcoin hits new all-time high above $68,000 as cryptocurrencies extend rally

by
November 9, 2021
in Trade News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Chuck Todd will depart NBC’s ‘Meet the Press’; Kristen Welker to become host

How Ford, GM auto dealers are thinking about Detroit’s EV transition and their future

Bitcoin and ether hit fresh all-time highs on Tuesday, extending their rally from a day earlier.

Bitcoin’s price at one point rose above $68,000, eclipsing a previous record set in late October. The world’s biggest digital currency climbed as high as $68,521 before easing slightly to $67,935.

It was last up 3% in the past 24 hours as of 4:30 a.m. ET, according to Coin Metrics data.

Ether, the native currency of ethereum’s blockchain, notched a record high of $4,840, surpassing the $4,800 level for the first time ever.

The token traded about 2% higher in the last 24 hours at a price of $4,814.

These record-breaking moves come amid a wider rally in the crypto market. So-called “ethereum killers” solana and cardano are up 21% and 16% respectively in the last seven days.

The ProShares Bitcoin Strategy ETF, which launched in October and tracks bitcoin futures contracts pegged to the future price of the cryptocurrency, was up more than 8% on Monday.

While it is difficult to link short-term price movements to any specific event – and cryptocurrency price charts are often rife with volatility – some analysts think that both bitcoin and ether will continue to trend upward in the weeks ahead.

In a note sent on Monday, Mikkel Morch, executive director at crypto hedge fund ARK36, said a $70,000 price for bitcoin now “seems imminent.”

Others have bolder projections for where bitcoin is headed, as JPMorgan recently doubled down on its prediction that bitcoin would ultimately hit $146,000, with a shorter-term price target of $73,000 for this year.

Next week, bitcoin rolls out its biggest upgrade in four years.

The software upgrade is known as Taproot. It will mean greater transaction privacy and efficiency – and crucially, it will unlock the potential for smart contracts, a key feature of its blockchain technology.

Meanwhile, ether has been on an upswing since it implemented Altair, a network upgrade that went live in late October.

Altair was largely seen as a non-event to most everyone except validators — that is, the people on the ethereum network who verify transactions. But the upgrade was a pivotal step in implementing ethereum 2.0 or Eth2, which has been in the works for years and will fundamentally overhaul the entire network.

Ethereum 2.0 would have the network switch from the energy-intensive “proof-of-work” mining system, where miners solve difficult math equations to create new coins, to “proof-of-stake,” which just requires users to leverage their existing cache of ether as a means to verify transactions and mint new tokens.

Eth2 aims to make ethereum more scalable, secure and sustainable. This change will be huge not just for ethereum, but for the wider cryptocurrency community at large.

ShareTweetPin

Related Posts

Chuck Todd will depart NBC’s ‘Meet the Press’; Kristen Welker to become host

by
June 4, 2023
0

Moderator Chuck Todd attends "Meet the Press Film Festival" event during AFI FEST at TCL Chinese 6 theatre in Los...

How Ford, GM auto dealers are thinking about Detroit’s EV transition and their future

by
June 4, 2023
0

In this article GMF Follow your favorite stocksCREATE FREE ACCOUNT Ford Mustang Mach-E vehicles at a Ford dealership in Colma,...

Borrowers brace for student loan bills to resume — ‘$600 a month, where is that going to come from?’

by
June 4, 2023
0

Djelics | E+ | Getty Images Richelle Brooks' budget is already tight. She doesn't know what she's going to do...

Cramer: This is my game plan for the week ahead after Friday’s surprise rally

by
June 4, 2023
0

What the heck really did happen on Friday, when the Dow jumped 700 points on a strong jobs reading ?...

OPEC+ sticks to 2023 oil production targets as Saudi Arabia announces further voluntary cuts

by
June 4, 2023
0

Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud arrives for the Organization of Petroleum Exporting Countries (OPEC) meeting in...

Next Post

Stock futures mostly flat after major averages' record-setting Monday

The 'SPAC king' just warned investors that tech stocks could get 'really pummeled' soon ⁠— here are the 3 areas he wants to be in right now

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

    0 shares
    Share 0 Tweet 0
  • Josh Brown says Nvidia’s potential is ‘scary’ ahead of a potential AI boom

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net