Bitcoin Rallies to $66,000 as Ethereum Breaks All-Time High

• Bitcoin rallied towards its all-time high on Monday morning by climbing above $66,000 with a 6.6% increase

• Ethereum also followed the movement of the flagship cryptocurrency, by adding 3% to reach a new high of 4,768

• The cryptocurrency market now has a market capitalization of $2.8 trillion, according to data from CoinMarketCap

Bitcoin rallied towards its previous all-time high of $67,000 on Monday morning after adding 6.6% to its value.

The flagship cryptocurrency reached $66,170, less than $1000 shy of the $67,016.50 level reached on October 20.

Ether also joined in the rally, as the coin of the Ethereum network set a new record for $4,768.07 with a 3% rally.

Since the start of October, both BTC and Ether, added 59% and 51% respectively aided by the news of the launch of the U.S. futures-based bitcoin exchange-traded fund.

Other top cryptocurrencies such as Avalanche, Dogecoin, and XRP also capitalized on the rally of Bitcoin to add to their value.

Interest has increased in the world’s number one cryptocurrency as more investors see it as a hedge against inflation.

JP Morgan analysts have claimed that investors are beginning to favor BTC ahead of gold as a safe haven for their funds.

At the time of this report, the cryptocurrency market now has a market capitalization of $2.8 trillion, according to data from CoinMarketCap.

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