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The bitcoin price hit a new all-time high after surpassing the US$ 68,000 mark in the early hours of Tuesday (November 9).

According to data from CoinMarketCap, the digital currency has experienced a wave of appreciation in recent days, rising more than 10% at the weekly close. Meanwhile, in the past 24 hours alone, the price of bitcoin has risen about 5%, renewing its highest at US$ 68,530.34.

Bitcoin has accumulated a significant appreciation of US$ 26,000 in the past two months, but dropping at the end of September 2021. Since then, the cryptoasset price has risen from US$ 43,000 to a US$ 68,000 record today.

Bitcoin’s evolution in three months (Reproduction/CoinMarketCap)


New Bitcoin record

In less than a month, the price of bitcoin has renewed its market peak twice. By the end of October 2021, the digital currency set a record by breaking through the resistance of US$ 66,000 for the first time.

In total, bitcoin has already hit three records in the past seven months. Before the record high of nearly US$ 67,000 at the end of October, in April 2021, the cryptoasset boasted a high of US$ 64,900.

Although bitcoin broke the US$ 68,000 level on Tuesday (9), on Monday (8), its appreciation had already left behind the last October record before closing at US$ 68,530.34 in recent hours.

Bitcoin quote in dollars (Reproduction/CoinMarketCap)

BTC quote in Reais

Besides breaking the record through the BTC/USD trading pair, bitcoin posted a new all-time high in the Brazilian crypto market. According to data from CoinMarketCap, bitcoin’s record in reais is currently at R$ 379.658,084.

Until then, the highest price in reais recorded by the cryptoasset was around R$ 370.000 and was reached in April 2021. In Brazil, the bitcoin price is directly influenced by the dollar exchange rate.

Bitcoin price hits record (Reproduction/CoinMarketCap)

 Currently, the dollar is quoted at R$ 5.54, quite below the actual value at the exchange market on the day the BTC broke the R$ 370.000 level. On that day, each dollar was worth R$ 5.69.

However, the dollar price at R$ 5.54 on Tuesday (9) was enough for the digital currency to reach a new record in Brazil. With an appreciation of 4.26% on the day, bitcoin approached the resistance of R$ 380.000 but is now being quoted at R$ 374.978,21.