Bitcoin has Risen in Price by $3K in One Hour and Updated its All-Time High Once Again

The price of Bitcoin, the first cryptocurrency, reached $69,000 after the release of data about the highest inflation rate in the United States.

On November 10, Bitcoin rose in price by more than $3,000 to a new all-time high of $69,000. On the LATOKEN crypto exchange, you can buy Bitcoin for about $68,245.

START TRADING BTC

The price of Bitcoin rose rapidly after the US Department of Labor reported that consumer prices in the country increased by 6.2% in October 2021. This is the maximum since November 1990, when inflation was 6.3%.

Following Bitcoin, the largest altcoins in terms of capitalization also rose in price. For example, the price of Ethereum increased from $4,690 to $4.836 thousand. The overall valuation of the crypto market again exceeded $3.1 trillion.

START TRADING ETH

The last wave of growth in the value of Bitcoin started at the end of October 2021. In October, the first exchange-traded fund (ETF) based on Bitcoin futures was launched in the United States. Bitcoin Strategy ETF (BITO) trading started on October 19 on the New York Stock Exchange (NYSE).

In the first two days of trading, assets under the management of the Bitcoin fund exceeded $1 billion. The fund broke the record for the growth rate to $1 billion, which was held for 18 years. Until that moment, the leadership belonged to the “gold” exchange-traded fund (ticker GLD) — it managed to reach $ 1 billion in three days in 2004.

In early November, large bitcoin holders (who have from 10,000 to 100,000 thousand BTC), increased their investments by $2.8 billion in just five days. During this period, large players bought 43 thousand BTC.

Analysts of the Santiment service suggested that the active period of cryptocurrency accumulation could cause its marked jump by $3,500 in the early morning hours of November 8. In 25 days, large investors bought 93,000 Bitcoins.

Do you want to learn more about the most promising tokens through LATOKEN Review, and always stay up to date? To do this, just follow us on Medium, LATOKEN Blog, or LATOKEN VCTV channels.

About LATOKEN

  • Ranked #2 worldwide in the startup tokens primary market with 220+ IEO’s since 2017.
  • Has over 2 mln registered users, over 1 mln Android app installs.
  • Is in the TOP 10 of CoinGecko rank by the amount of token pairs and coins listed.
  • VCTV, a live streaming panel with high-profile industry leaders, produced over 500 shows to advise traders and investors how to navigate the crypto world with discussions, news updates, and interviews.
  • Advisory Board includes former CFOs from JP Morgan and Paypal.

Follow LATOKEN on social media to keep up with the latest news, and more!👇

Website

Twitter

Facebook

YouTube

Instagram

LinkedIn

Telegram Announcements

LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.

--

--

--

#1 cryptocurrency exchange in liquidity for new digital assets and the leading platform for compliant multi-asset tokenization. http://go.latoken.com/start

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Cryptocurrency these days

The Unlikely Marriage Between Wall Street And Blockchain

CryptoBits — Bitcoin Analysis: 28/05/2019

Winve A World’s First Decentralized Finance platform for NFT Yield Farming at Binance Smart Chain.

iBG Finance

Is cryptocurrency an opportunity or a threat for IMF?

Bitcoin SV: The 4 Tech Pillars of BSV

Staking and Project Y Farming Update — Relaunching LOS V2 and Pool 1

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
LATOKEN

LATOKEN

#1 cryptocurrency exchange in liquidity for new digital assets and the leading platform for compliant multi-asset tokenization. http://go.latoken.com/start

More from Medium

Why 2022 Could Be the Most Profitable Year for Cryptocurrencies — VAULT Cryptocurrency Blockchain…

Cryptocurrency

$DESU — Get to know Dexsport Token and its use cases

Coinbase adds nearly 100 crypto assets for trading in 2021