The price of bitcoin is quickly closing in on a brand new all-time high after one other surge at first of the week.
The cryptocurrency is now lower than $2,000 away from the $64,000 file it hit again in April, following a outstanding restoration that noticed it crash beneath $30,000 in July.
The total crypto market can also be approaching an ATH, reaching above $2.5 trillion on Monday morning and persevering with to climb on Tuesday. Several main cryptocurrencies have additionally seen massive good points, most notably Ethereum (ether), Binance Coin and Polkadot (DOT).
Several distinguished analysts imagine the most recent rally is the start of a significant bull run that can see bitcoin and different cryptocurrencies blast previous their earlier information within the remaining months of 2021.
One of essentially the most notable price prediction fashions, made by pseudonymous Dutch analyst PlanB, places bitcoin on monitor to hit six figures inside the subsequent two months.
We’ll have all the most recent information, evaluation and skilled price predictions proper right here.
Bitcoin futures ETF launches immediately
Today is the day that the long-awaited, first-of-its-kind bitcoin futures exchange-traded fund (ETF) launches on the New York Stock Exchange.
It’s an enormous milestone for the crypto trade and can open up BTC to an entire new realm of buyers, whereas additionally paving the best way for extra cryptocurrency ETFs sooner or later. There might even be an extra three this month.
We’ve heard from Paolo Ardoino, CTO of cryptocurrency trade Bitfinex, who describes the launch as a “turning point” for bitcoin.
“As the digital token area evolves, we’re seeing elevated curiosity within the idea of a bitcoin ETF, as evidenced by some high-profile world launches. This has not solely marked a turning level for the onboarding of institutional buyers however can also be a transparent signal of bitcoin‘s maturity,” he says.
“Bitcoin ETFs may be a significant stimulant for the future of digital token uptake, bringing more investors as well as inspiring the sharing of knowledge within the space. Institutional investors are already driving volumes on exchanges and many expect adoption to skyrocket now that exposure and access to bitcoin will be so readily available.”
Anthony Cuthbertson19 October 2021 07:36
Bitcoin price hits all-time – in Japan
The price of bitcoin has hit a record all-time high on Tuesday, though not officially.
The cryptocurrency achieved the feat on an exchange in Japan, where demand appears to be soaring ahead of the launch of the bitcoin futures ETF later today in the US. Investment podcaster Preston Pysh registered bitcoin above $70,000 on one Japanese exchange, but going by CoinMarketCap’s extra consultant price index, BTC remains to be slightly below $2,000 away from hitting a brand new all-time high this morning.
Anthony Cuthbertson19 October 2021 07:22
Bitcoin price up greater than 100% since July
Bitcoin’s outstanding good points this month imply it has now greater than doubled in price because the April-July crash took it beneath $30,000.
After cresting and dipping in September, bitcoin has adopted the type of earlier years by taking pictures up in price in October. Historically, November has been its strongest month, with common good points of 53 per cent since 2011, whereas December additionally usually sees a big price improve for the cryptocurrency. Many buyers will probably be hoping it should do the identical once more this yr to cap off a record-breaking 2021.
Anthony Cuthbertson18 October 2021 17:23
Crypto consultants predict new file bitcoin price this week
With bitcoin nonetheless teasing its all-time high, we’ve reached out to 2 crypto consultants to listen to their ideas on whether or not we’ll see a brand new file price high within the coming days.
“A lot of good news has already been price in, although with bitcoin’s all-time high just $2,000 away a fresh attempt to break this is very likely to happen in the short term,” says Nicholas Cawley, an analyst at international trade agency DailyFX, who believes there might be “repeated fresh bitcoin highs” over the subsequent couple of months.
You can learn the total story right here.
Anthony Cuthbertson18 October 2021 17:07
When will bitcoin price peak?
For many bitcoin advocates, breaking the price file in 2021 is a query of if, not when. For them, the true questions are how high will it go and when will it crash?
By one analyst’s estimations, the height of this present market cycle will probably be hit sooner or later in mid December, as that is 150 days from the mid-cycle low seen in July – presuming the all-time high is breached.
By TechDev’s calculations, bitcoin will attain $70,000 sooner or later subsequent week, earlier than hitting $90,000 in November. There will then be a slight dip again to the $60,000 vary, he claims, earlier than a “parabolic run up” to a peak of $250,000.
Anthony Cuthbertson18 October 2021 13:22
How bitcoin and crypto market caps stack up
With the cryptocurrency market now above $2.5 trillion, it’s now value greater than the entire world’s most respected firms.
Bitcoin alone ranks forward of Facebook and Tesla, with solely Amazon, Alphabet (Google), Saudi Aramco, Microsoft and Apple beating its market cap. Its current price surge means its market cap is now simply $20 billion away from its all-time high.
Excluding treasured metals – gold and silver have a market cap of $11.19 trillion and $1.3 trillion respectively – right here’s how the highest property stack up.
Anthony Cuthbertson18 October 2021 12:25
Bitcoin price and crypto market tease all-time high
Bitcoin has hit a brand new six-month high, hitting $62,614 on Monday morning in response to CoinMarketCap’s price index, leaving it lower than $2,000 away from its all-time high.
It has helped push the general crypto market cap above $2.5 trillion, which is now additionally teasing its personal file high.
The cryptocurrency area is not dominated by bitcoin in the identical manner it was when the final peak was seen again in April.
Today, BTC solely represents simply over 40 per cent of the entire crypto market capitalisation because of huge good points seen by Ethereum (ether), Cardano (ada) and different main altcoins. This means we’ll seemingly see the crypto market hit a brand new high earlier than bitcoin does.
Anthony Cuthbertson18 October 2021 09:41
Hello and welcome…
to The Independent’s stay protection of the crypto market. Bitcoin seems to be closing in on a brand new all-time high on Monday after experiencing an enormous price surge within the first half of October 2021.
The world’s main cryptocurrency is up greater than 40 per cent over the past two weeks, with different high cryptocurrencies like Ethereum (ether) and Cardano (ada) additionally seeing main good points.
We’ll have all the most recent information, market evaluation and skilled price predictions all through the day proper right here.
Anthony Cuthbertson18 October 2021 09:19