Recently, cryptocurrencies have achieved gains supported by a wave of momentum, inflows, positive news, and inflation concerns. Bitcoin rose to its highest level in two and a half weeks on Monday, while Ether reached a new record level. Bitcoin was up about three percent in the latest trades, reaching $65,121, while Ether, linked to the Ethereum network, hit an unprecedented level of $4,711, according to Reuters. Since the beginning of October, Ether has gained 57 percent, and Bitcoin has increased by around 50 percent, driven by investor optimism regarding the launch of a U.S. Bitcoin futures-based fund, with many turning to this asset class, which is sometimes seen as a hedge against inflation.
Cryptocurrencies Continue to Break Records
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