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Bitcoin hits new all-time high of $109,500, passes Amazon and Google in market cap

Kitco Media
By Ernest Hoffman
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Updated
Kitco News
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Bitcoin hits new all-time high of $109,500, passes Amazon and Google in market cap teaser image

(Kitco News) – Bitcoin has continued it recent run of strength on Wednesday, hitting a fresh all-time high following a strong move up that began shortly after 10:30 am EDT.

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Reactions from the cryptosphere came fast and furious, with many of Bitcoin’s strongest advocates taking the opportunity to crow over King Crypto’s latest achievement.

Bitcoin Archive noted that with its latest gains, the top cryptocurrency has now surpassed tech giants Amazon and Google in value – though precious metals proponents will note what’s number one on that list:

But others, like frequent gold commentator Ronnie Stoeferle, found it interesting that the latest milestone arrived with relatively little fanfare.

And despite the excitement over the new high within striking distance of $110k, some analysts pointed to technical indicators that suggest that King Crypto could be starting a much bigger move.

Bitcoin has seen a round of profit-taking following its high, last trading at $108,433.66 for a gain of 1.48% on the session.

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Kitco Media

Ernest Hoffman

Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in Journalism from Concordia University. You can reach Ernest at 1-514-670-1339.

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