Bitcoin and Ethereum achieve all-year highs

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2020/07/ethereum.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2020/07/ethereum.jpg 730w, https://www.leaprate.com/wp-content/uploads/2020/07/ethereum-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2020/07/ethereum-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2020/07/ethereum-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2020/07/ethereum-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2020/07/ethereum-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>According to Reuters, these upticks follow an economic sigh of relief after US interest rate cuts and widespread anticipation that US stock market-traded bitcoin funds will soon be approved. Bitcoin broke records on Monday, when it hit the $41,522 mark, the highest value the digital currency reflected since April 2022.</p>
<p>Analysts indicated the world’s most prominent cryptocurrency experienced a 50% rally in October, building continued momentum towards stabilisation and growth. It seems this established a certain shift away from Bitcoin’s bearish 2022 and early 2023 slump.</p>
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<p>Many also feel the shadow cast by the FTX collapse and ensuing fraud chaos is lifting, reviving investor interest in cryptocurrency as evidenced by institutional buying through November. Reuters quoted Justin d’Anethan, the head of business development for Asia-Pacific at Keyrock, a digital assets marketing company, who stated that when Bitcoin plummeted to a $16,000 low in 2022 it probably signified the rock-bottom mark for this digital asset.</p>
<p>Other assets, such as gold, also rallied in the expectation that the US Federal Reserve is halting, and will start cutting, rate hikes. The precious metal’s last recorded price sat at $2,089.70 on Monday before the US market opening bell.</p>
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