Bitcoin and ether hit fresh all-time highs on Tuesday, extending their rally from a day earlier. Bitcoin’s price at one point rose above $68,000, eclipsing a previous record set in late October. The world’s biggest digital currency climbed as high as $68,521 before easing slightly to $67,935. It was last up 3% in the past 24 hours as of 4:30 a.m. ET, according to Coin Metrics data.
Bitcoin and cryptocurrency prices have rocketed this year, propelling the combined crypto market to over $2.6 trillion. The bitcoin price has added almost 400% since this time last year, climbing to over $60,000. However, bitcoin has fallen sharply over the last 24 hours, dropping under the closely-watched $60,000 level.
Some governments have understood the idea of cryptocurrencies, while others are still trying to grab at the wind. El Salvador has made Bitcoin legal tender, Brazil may be looking to do the same and Forbes reports that the US state of Texas is poised to become a world leader in Bitcoin and blockchain technology.