Bitcoin going towards its all-time high on Monday and ether climbed to a record as cryptocurrencies rode a wave of momentum.
Bitcoin and ethereum both rallied on Monday, continuing a rally that has seen the two cryptocurrencies rise in price since the start of this year.
Bitcoin reached $66,170 on Monday, up more than 4% for its highest trading price in more than three weeks. Also, ethereum network has sat at a record top of $4,768.07.
Ethereum reached a record top of $4768.07 on Monday, up 5% for its highest trading price in more than two months.
“Financial institutions want to be a part of it, regulators don’t want to clamp down on it too much,” said Kyle Rodda, an analyst at broker IG Markets. “We’re almost past the inflection point, where it’s part of the system and it’s going to be very, very hard to extricate it.”