Bitcoin’s value has risen to a new all-time high. The digital currency is now worth more than $68,000.
The largest cryptocurrency in the world, bitcoin, tapped a value of $ 68,513 on Tuesday. Bitcoin has risen 3 percent in value in the past 24 hours. Since the beginning of the year, the value has more than doubled.
Bitcoin’s previous record only dates back to October 20, when the digital currency’s value rose to $66,879. Bitcoin was launched in early 2009 and was worth only a few cents at the time.
Ether’s second largest crypto currency also reaches a new record and is gradually climbing towards $5,000. Since the beginning of this year, an ether has become worth more than six times as much and traded on Tuesday for about $ 4,810.
According to CoinGecko, which monitors the crypto market, the total value of all digital coins is now 3.1 trillion dollars. Since the beginning of this year, the total value of all cryptos has almost quadrupled.
It is often guesswork why cryptocurrencies rise or fall in price. In any case, it is clear that more and more large investors are interested in digital currencies. More and more companies and organizations are also using it. Investors in cryptos have also been trying to hedge against rising inflation; lately, market analysts think.