‘Fast money’ drives Bitcoin, ether to new record highs

Bitcoin and ether made record peaks in Asia trade on Tuesday as enthusiasm for cryptocurrency adoption and fears about inflation lent support to the asset class.

Bitcoin rose as high as $67,803 and ether, the second-biggest cryptocurrency by market value, hit $4,825 in early Asian hours.

Both have more than doubled since June and added nearly 70% against the dollar since the start of October.

“Crypto is where the fast money is at,” said Chris Weston, head of research at brokerage Pepperstone. “(Ether) is trending like a dream and I’d be long and strong here,” he added.