Bitcoin rallied to a two-year high today, breaking above $68,000 as a surge of investment flows propelled the cryptocurrency within striking distance of its all-time record. The price hit a session high of $68,580, just shy of the record $68,999.99 set in November 2021.
Chinese state media outlet Economic Daily cautioned investors about Bitcoin risks amid the crypto’s price rally, as China maintains its ban on crypto trading and services.
A South Korean court has jailed a crypto scammer for 5 years for stealing over $1.6 million worth of crypto from an AfreecaTV broadcasting star through an elaborate scheme involving fake Bitcoin wallets and investment promises.
Bitcoin’s surge past $60,000 has renewed crypto market optimism, but Hong Kong’s planned crackdown on small crypto shops illustrates the industry’s uneasy fit with regulation.
Crypto mining firm Marathon Digital introduced Anduro, a new Bitcoin layer-2 platform focused on supporting sidechain development while allowing miners to earn extra income.
Coinbase suffered tech problems like zero balances as Bitcoin hit $64K then dropped 4% in minutes; exchange said aware of errors amid high traffic.
Renowned economist Peter Schiff has sparked controversy after calling Bitcoin “digital anti-gold,” rejecting the idea that it is digital gold. He argues Bitcoin is a bet against gold and inflation hedge, not a store of value. The crypto community strongly disagrees.
A 40-year market veteran predicts Bitcoin could surge to $305,000 by 2025, nearing gold’s $6 trillion monetary value, as BTC taps $86,000 again on its way to surpass its former $93,000 record price.
Rising Bitcoin prices are attracting speculators back to the market, with short-term holders and institutions driving up exchange activity and open futures interest.
JPMorgan believes Bitcoin halving and Ethereum upgrade are priced in, sees only 50% chance of SEC approving spot Ethereum ETFs in May.
