Bitcoin
BTC$56 268.54

9.76%

Ethereum
ETH$3 221.29

4.16%

Tether
USDT$1.000545

0.05%

Binance Coin
BNB$397.98

2.31%

Solana
SOL$111.02

7.09%

XRP
XRP$0.554224

2.86%

Bitcoin approaches all-time high but hits resistance at $60,000


15 Oct 2021

#Bitcoin

The price of Bitcoin jumped towards its all-time high on Friday morning after a Bloomberg report said the US Securities and Exchange Commission (SEC) is set to allow a US Bitcoin Futures ETF to begin trading next week, citing people familiar with the matter. Hopes that a Bitcoin futures ETF would be approved by the SEC have supported the price in recent weeks. Some exchanges show the world’s largest cryptocurrency reached $60,000 on Friday morning following the Bloomberg story. Bitcoin previously hit an all-time high in April of $64,778.

The approval of a Bitcoin ETF would give more opportunity to traders willing to invest in cryptocurrencies without the risk of buying the physical asset and is seen as a major stepping stone on the path for cryptocurrencies to become a mainstream financial market asset.

There are a number of fund managers with applications for a Bitcoin futures ETF including ProShares, Valkyrie, Invesco, and VanEck. Earlier this week, Cathie Wood’s ARK Invest also filed for a Bitcoin futures ETF.

SEC Tweet

Further adding weight to the argument that the first Bitcoin futures ETF will begin trading was a tweet from the SEC’s Investor Education Office.

“Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits,” the tweet said.

It is worth nothing that one of the previous times the SEC tweeted out this bulletin was two days prior to the Bitcoin Strategy Mutual Fund BTCFX begun trading. Some analysts have taken this as a signal that a Bitcoin futures ETF will begin trading imminently. At 11:00BST, Bitcoin was trading just off its daily high at $59,366.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 60.4% 79 $56 268.54 9.76% 8.70% $1 105 056 355 581 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 59.6% 81 $3 221.29 4.16% 10.49% $387 050 238 819 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000545 0.05% 0.12% $98 117 032 200 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 64.8% 69 $397.98 2.31% 11.72% $59 515 671 450 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 77.6% 44 $111.02 7.09% 1.69% $49 106 979 986 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 82.4% 22 $0.554224 2.86% -1.61% $30 257 460 569 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000039 0.01% 0.02% $28 537 011 026 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 66% 67 $0.619217 6.09% -0.60% $21 964 701 688 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 76% 51 $39.26 6.42% 0.65% $14 808 155 201 AVAX 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 89.2% 17 $0.092309 7.81% 6.43% $13 222 641 504 DOGE 7 days price change
11 TRON (TRX) TRX TRON predictions 72.4% 61 $0.140867 2.15% 2.73% $12 396 268 852 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 70.4% 61 $0.140599 2.12% 2.89% $12 372 755 252 WTRX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 72.8% 46 $19.04 3.04% -2.39% $11 175 771 568 LINK 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 73.2% 52 $8.10 4.73% 4.17% $10 398 739 367 DOT 7 days price change
15 Lido stETH (STETH) STETH Lido stETH predictions 93.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change

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