Bitcoin
BTC$57 356.27

5.94%

Ethereum
ETH$4 304.76

6.93%

Binance Coin
BNB$608.28

5.04%

Tether
USDT$1.000018

-0.09%

Solana
SOL$200.94

7.45%

Cardano
ADA$1.59

6.77%

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 74.8% 42 $57 356.27 5.94% -0.06% $1 083 224 324 583 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82% 32 $4 304.76 6.93% 3.35% $510 247 457 151 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 73.6% 53 $608.28 5.04% 6.90% $101 461 207 607 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000018 -0.09% 0.01% $73 122 538 378 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 69.6% 65 $200.94 7.45% -8.89% $61 094 715 358 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 70.8% 60 $1.59 6.77% -11.22% $53 044 656 745 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 72.4% 51 $0.977023 7.37% -5.86% $46 075 386 084 XRP 7 days price change
8 USD Coin (USDC) USDC USD Coin predictions 92.8% 2 $0.999312 0.03% 0.05% $38 434 749 744 USDC 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 64.4% 75 $36.26 9.70% -9.66% $35 813 883 653 DOT 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 63.2% 74 $0.205330 2.97% -7.58% $27 166 036 595 DOGE 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 64.8% 75 $113.59 7.50% -16.68% $25 424 712 555 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64% 77 $0.000039 3.86% -10.81% $21 414 891 870 SHIB 7 days price change
13 Terra (LUNA) LUNA Terra predictions 65.2% 72 $49.91 17.07% 20.70% $19 612 641 482 LUNA 7 days price change
14 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 58.8% 90 $0.761802 5.01% 7.61% $19 245 420 209 CRO 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 75.2% 46 $56 387.63 5.79% -1.42% $14 292 919 152 WBTC 7 days price change

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