Price of Bitcoin Surpasses $68,500, Reaching New Record High

The price of Bitcoin has surpassed the $68,500 level for the first time setting a new record

Price of Bitcoin Reached New Record High

At 3:58 a.m. UTC, Bitcoin, the oldest and largest cryptocurrency, reached a new all-time high of $68,564 on the Bitstamp exchange.

After a 42.26 percent price increase in October, it is up 11.73 percent since the beginning of November.The flagship currency is now valued $1.289 trillion, approaching the market capitalization of silver.

As a result of the price hike, Bitcoin's market share has increased to 43.8 percent.

On Oct. 20, the day after ProShares' “BITO” exchange-traded fund went live in the United States, the crypto king reached $67,000 for the first time.

Bitcoin quickly rebounded after a 15% dip.

After Digital Currency Group CEO Barry Silbert predicted “a tremendous week” for the cryptocurrency market, the price has risen significantly.