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Amid the ongoing rally in the cryptocurrency markets, Bitcoin (BTC) has secured another milestone by reaching a new all-time high against the Russian national currency, the ruble.
According to data from leading cryptocurrency monitoring site CoinGecko, Bitcoin broke another all-time high against the ruble, crossing its previous ATH of around 1,157,000 rubles. According to CoinGecko, Bitcoin was worth over 1,160,000 at 16:00 UTC.
Bitcoin’s new ATH comes in the midst of a major rally in the cryptocurrency market, with Bitcoin surpassing $ 14,700 for the first time since early January 2018 to early today. The rally continues to gain momentum as Bitcoin is now surpassing $ 15,000, according to data from CoinGecko.
As the ruble has weakened against the dollar, the new ATH is not based solely on the massive growth of Bitcoin. The previous ATH of Bitcoin’s price against the ruble was recorded in 2017, when Bitcoin hit its record high of $ 20,000. At that time, the US dollar cost about 59 rubles. After a sharp decline against the ruble during the US presidential election, one dollar is now worth around 77 rubles.
The Russian ruble isn’t the only fiat currency facing new Bitcoin all-time highs amid the ongoing crypto rally and rising inflation. According to entrepreneur and market commentator Alistair Milne, the price of Bitcoin hit a new high in seven national currencies such as Brazil, Turkey and Argentina in October 2020. On October 22, Milne predicted that Bitcoin will soon reach a new ATH in currencies. local to Russia and Colombia.
