Bitcoin Reaches a New All-Time High of More than $66k

Kavya  |  Oct 21, 2021

Bitcoin (BTC) has reached a new all-time high of $66,930, as a long-awaited rise pushes the BTC/USD pair towards price discovery.

Bitcoin Reaches All-time High Against Various Fiat Currencies

Bitcoin has broken through the $64,900 barrier that has been in place since April.

BTC/USD rose on the second day of trading for the immensely popular ProShares Bitcoin Strategy ETF, continuing a trend that has defined the pair in recent days.

Bitcoin's most well-known figures were ecstatic on social media.

“The halls of eternity echo with the cries of those who sold their Bitcoin,” Michael Saylor, CEO of MicroStrategy, commented.

Bitcoin has already reached all-time highs against many major fiat currencies, including the euro, this week.

As previously said, expectations continue for further higher levels to be reached in the next weeks and months, with minor corrections to build new support levels intermingled.

The greatest short-term forecasts presently range from $300,000 to $300,000 per Bitcoin.

The ‘Bitcoin Season’ is in Full Swing

Various data points reinforce the notion that Bitcoin's moment to shine will come before altcoins, which continued to lose ground versus BTC on the day.

Popular traders were already warning that now was not the time to focus on an altcoin-heavy portfolio, with Bitcoin's market capitalization domination at its highest since May – 47.4%, according to CoinMarketCap data.

According to current projections, the first half of 2022 should see a reversal in the fortunes of cryptocurrencies.

Elon Musk Predicts the Price of the Bitcoin to Reach $69k

Even if Bitcoin is still 4.5 percent away from the meme-worthy $69,000 mark at the time of writing, Tesla CEO Elon Musk is still tweeting about the filthy figure.

Notably, Musk omitted to disclose the $69,420 price tag that, according to some crypto influencers can shatter the internet.

The number 420 has become synonymous with Tesla after its CEO tweeted about taking the business private at $420 per share (and got sued by the U.S. Securities and Exchange Commission for doing that).

Tesla's cult-like group has subsequently dubbed April 20 Elon Musk Day.

Based on his previous tweets, the number 69 appears to have special importance for Musk.

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