The world’s largest cryptocurrency, Bitcoin, set a new all-time high of $68,500 on November 9th, 2021. Experts are now anticipating a new milestone of $75,000 to $86,000 in the coming months. In both 2013 and 2017, the second week of November proved favorable for bitcoin, and we saw green weekly gains in both years. Bitcoin was trading at $68,530 at the time of writing.

Due to the COVID-19 pandemic and the uncertainty of the future, the crypto market had a massive crash on March 12, 2020. Bitcoin dropped by more than 38% in a single day. Things have changed in the crypto realm, with bitcoin currently trading at $68,500, up from $4500 last year, and people sharing their experiences on social media platforms.

According to CoinMarketCap, Bitcoin’s market capitalization has reached $1.2 trillion, accounting for over 42.8 percent of all total crypto market capitalization, surpassing major corporations such as Tesla, Meta (Facebook), Visa, Bank of America, Alibaba, P&G, and others, and placing it 6th in the world’s total assets market capitalization.

Bitcoin has delivered a return of more than 100% in 2021. Many causes contributed to this rise, but a few important ones played a key influence, such as the launch of a bitcoin ETF in October 2021, increased institutional interest, and accumulation by many large firms, such as MicroStrategy, and a short supply of cryptocurrencies on exchanges.

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Kapil Gauhar

I pen down crypto thoughts.