Bitcoin hits record as ‘Uptober’ rally reaches fever pitch

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Cryptocurrency markets are bubbling with activity as bullish traders position for a seasonal “Uptober” rally and the US government shutdown turbocharges a shift away from the greenback and into alternate stores of value.

Bitcoin hit a fresh record of $US125,689 ($190,566) over the weekend, surging past its previous record set in August. The token historically rises in the month of October – it has done so in nine of the past 10 – earning it the nickname “Uptober”.

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