Cryptocurrency prices soared Thursday, November 18, with Bitcoin breaking beyond USD60,000 for the first time after falling in recent sessions and plunging to its lowest level this month. At USD60,892, the world's largest and most popular cryptocurrency was trading almost 2 percent higher. Bitcoin prices just touched a new high of over USD69,000, putting the year-to-date (YTD) gain at over 108 percent.
According to CoinGecko, the global crypto market cap increased marginally to USD2.8 trillion. This year, Bitcoin has more than doubled in value, while Ether has increased by approximately sixfold. Last week, both achieved new highs amid a craze for digital assets fueled by speculative demand and contentious claims that they help manage inflation risks.
Ether, the second-largest cryptocurrency and the unit tied to the Ethereum network, rose more than 4 percent to USD 4,328. The price of ether has been hovering around an all-time high, catching up to bitcoin's rise and riding on rumours of more blockchain usage.
Pvt Cryptocoins to be Banned, Govt to Launch Official Digital Cryptocurrency Soon
Rupee gained 9-paise versus dollar to close the day at 74.28
Gold price today: Gold moving towards a new record, Check everything here