Bitcoin and Ethereum are flirting with new breakthrough points as good news starts to gather around the industry. Bitcoin jumped more than 4% to as high as $66,170, approaching its recent peak of $67,016.50 on October 20 of this year.
Ethereum performed really well too at $4,768.07. This momentum all started from the recent news that the US will allow futures-based Bitcoin exchange-traded funds (ETF).
Inflation was another predetermined reason as to why traders are now seeking out non-traditional assets to reduce the risks. Countries such as Australia and Singapore which can be seen as conservative nations are now adopting cryptocurrencies.
For example, Australia’s Biggest bank will offer crypto trading to retail customers.
The hype has also spilled over into politics, as New York Mayor-elect Eric Adams said he would take his first three paychecks in Bitcoin. He also talked about his ideas to make his city the center of cryptocurrency. His ambitions were also shared by other mayors who want to get a piece of the action as the industry grows.
These are all good news for the crypto industry which is still in the early stages of a tumultuous journey. Crypto is here to stay and this is only just the beginning.
