Bitcoin reached a new record on Sunday, rising above US$49,000 for the first time.

The world’s largest cryptocurrency reached about US$49,694 earlier in the day, before paring gains to around US$48,904 as of 10.10 am in New York. It’s now up almost 70% so far this year. Rival cryptocurrency Ether hit a record on Saturday and is up about 150% year-to-date.

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