Bitcoin is heading for new record highs. The cryptocurrency hit a two-year high of $65,000 on Monday, following a high inflow of money into Bitcoin exchange-traded funds.
The digital currency has increased by about 5.7% within 24 hours, while as a weekly report, the increase turns out to be almost 27%.
Much of the rise in recent weeks has been attributed to inflows into US-listed bitcoin funds, after the latter approved earlier this year what was described as a landmark decision for the cryptocurrency market.
This increased investor enthusiasm and gave bitcoin and Ethereum a big boost.
The virtual currency Etherium has increased by almost 50% since the beginning of the year and is approaching the level of 3,500 dollars, thus also marking the highest level in two years. This has fueled speculation that soon there may be an approval for funds traded on Etheriumj as well.