Cryptographic transformations are strengthening, ethereum is at a record and bitcoin is approaching

Updates: 08.11.2021 09:25

London – Cryptocurrencies have begun a week of growth. Bitcoin surpassed $ 66,000 (over CZK 1.4 million) and is close to the record, while the second largest cryptocurrency ethereum has risen to its maximum. According to analysts, positive news about cryptocurrencies as well as fears of inflation contribute to this.

Shortly after 9:00 a.m. CET, bitcoin traded at $ 65,962 on the Coindesk cryptocurrency exchange, gaining 6.7 percent in the past 24 hours. It rose to $ 66,327.40, a record of $ 66,974.77 in mid-October.

The second largest cryptocurrency, ethereum, sold for $ 4,728 at the same time, an increase of 3.9 percent in 24 hours. Before that, it reached the current maximum of $ 4,767.55.

Since the beginning of October, the price of cryptocurrency ethereum has increased by approximately 59 percent and the price of bitcoin by 51 percent. Last month, investors welcomed the launch of the first ETF fund, which focuses on bitcoin futures. Some want to use these so-called cryptoactive assets to hedge against inflation.

“Financial institutions want to be part of it, regulators don’t want to limit it too much,” said Kyle Rodda, an analyst at IG Markets, about cryptocurrencies. “We are almost beyond the breaking point when (this area) will be part of the system and then it will be really very difficult to get out of it,” Reuters was quoted as saying.

Australia’s largest Commonwealth Bank of Australia (CBA) announced last week that it would be the first large bank in the country to offer retail clients the opportunity to trade cryptocurrencies. Initially, it will allow investment in ten of them, including etherea. The Singapore government commented positively on this asset class and the positive mood on the stock markets also contributed to the growth of cryptocurrencies.

Newly-elected New York City Mayor Eric Adams wrote last week that he wanted the first three payouts in bitcoins and that he intended to make New York the center of the cryptocurrency industry. The mayor of Miami had previously expressed a similar opinion.

Source: České noviny – hlavní události by

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