Bitcoin rose to a record all-time high on Wednesday after a week-long price rally.

The cryptocurrency has risen by more than 50 per cent since the beginning of October, overtaking the market value of technology giants like Facebook and Tesla.

After BTC broke the April record of $ 64,800, BTC climbed further, trading above $ 66,000 on Thursday morning. It marks a remarkable rebound for Bitcoin, which fell below $ 30,000 in July.

Other leading cryptocurrencies have also reflected Bitcoin’s gains, particularly Ethereum (Ether) and Solana (SOL), both of which are up more than 10 percent in the past 24 hours. As a result of the price increases, the total capitalization of the crypto market rose above its previous all-time high, reaching over $ 2.6 trillion.

Several prominent crypto analysts believe Bitcoin is now on the second major leg of a bull run that will bring it to over $ 100,000 before the end of 2021, although others have warned that another major crash could follow.

Source : Theverge