In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
Cryptocurrency markets rose to record highs on Wednesday, as investors continued to pile into Bitcoin (BTC) and alternative coins against a backdrop of surging inflation in the United States.The cryptocurrency market capitalization — an important barometer for the health of the digital asset class — reached a high of $3.11 trillion, according to Coingecko. The asset class has grown by a cumulative 20% over the past two weeks.Bitcoin’s price suddenly spiked above $69,000 through the morning session, marking a new all-time high. Ether (ETH) also touched new highs, peaking at around $4,870, according to Cointelegraph Markets Pro.One of my biggest misses is not buying enough #Bitcoin – Peter Thiel— Bitcoin Archive (@BTC_Archive) November 10, 2021
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