Bitcoin price rises again earlier in the week amid a new wave of positive news in the crypto space.
The cryptocurrency hit above $ 57,000 on Monday and hit a new five-month high, bringing its total earnings for October to 32 percent. It fell briefly below $ 57,000 on Tuesday morning before continuing its rally.
Other leading cryptocurrencies have yet to mirror the fate of Bitcoin, with Ethereum (Ether), Cardano (ada) and Dogecoin all remaining relatively stable over the past week.
Bitcoin’s profits have pushed the total capitalization of the crypto market to over $ 2.3 trillion, overtaking the value of tech giants like Amazon, Alphabet (Google) and Microsoft. Only Apple is worth more than the cryptocurrency market, if only by less than $ 50 billion.
The recent surge has reinforced the conviction of some crypto analysts who predicted earlier this year that new record highs would be seen before the end of 2021.
Find the latest news, analysis, and price predictions from the experts here.