Bitcoin surpassed the $68,000 mark on Tuesday, joining No. 2 cryptocurrency Ether in setting a new all-time high. According to <a href="https://time.com/nextadvisor/investing/cryptocurrency/bitcoin-price-increases/">reports,</a> Bitcoin surged more than 4% in early Asia trading on Tuesday to a new record high of $68,641.57. Ether's price continued to rise, reaching a new high of $4,857.25.

The world's biggest cryptocurrency, with a market value of more than $1.29 trillion, has belatedly joined the larger cryptocurrency rally, which has seen the likes of Solana, Polkadot, and Avalanche set new highs in recent sessions.
<h2>Inflation protection for Bitcoin as it Touches All-Time High</h2>
Bitcoin's recent rise stems from its role as an inflation hedge, with central banks throughout the globe trapped between post-pandemic recovery and inflationary pressures.

"Truly after Bitcoin's astonishingly quick recovery from Beijing's mainland ban on Bitcoin mining in June, the market looks to be headed for a fall in the months ahead, with a stronger speculative emphasis on Ethereum..," Jefferies said.

Bitcoin and Ether prices both increased by more than 10% this week. While most bitcoin investors celebrated its recent climb on social media with "Happy all-time highs," some were less enthusiastic.
<h2>How have Alt-coins performed?</h2>
Binance Coin increased 1% to $648.15 on Tuesday. The third-largest cryptocurrency remained roughly 5% behind its all-time high, which was set in early May. Avalanche gained more than 4%, bringing its seven-day gains to about 40%.

Solana and Polkadot both slipped from record highs on Tuesday, but are presently trading at $247.73 and $52.73, respectively, in the last 24 hours. In early Asia trade, <a href="https://www.cryptoknowmics.com/news/coinbase-has-switched-to-robinhood-as-liquidating-shiba-inu-becomes-difficult/">Shiba Inu</a>, and <a href="https://www.cryptoknowmics.com/news/what-will-dogecoin-be-worth-by-2022/">Dogecoin</a>, two meme currencies, both rose more than 5%.

"Although certain Altcoins have surpassed Bitcoin, it remains the market leader, accounting for more than 40% of the worldwide crypto market and acting as the first onboarding coin for many new investors, whether retail, institutional, or even governments," said Juan Pellicer, research analyst at IntoTheBlock.

Bitcoin Surpasses $68,000 Mark Hitting All-Time High 

Bitcoin surpassed the $68,000 mark on Tuesday, joining No. 2 cryptocurrency Ether in setting a new all-time high.

Gitumani is a blockchain enthusiast as she keeps a tab on the recent happenings pertaining to the crypto industry. She aims to provide quality content in blockchain and crypto domain. She is a financial content writer too and has worked on several financial projects related to the stock market news, fundamental research, and technical analysis for several websites.

Bitcoin Surpasses $68,000 Mark Hitting All-Time High

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