Bitcoin
BTC$65 723.04

-1.20%

Ethereum
ETH$3 470.30

-4.04%

Tether
USDT$0.999876

0.05%

Binance Coin
BNB$600.71

-1.48%

Solana
SOL$141.66

-5.86%

USD Coin
USDC$1.000358

0.04%

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 85.2% 15 $65 723.04 -1.20% -5.28% $1 295 645 986 996 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 83.2% 23 $3 470.30 -4.04% -5.27% $416 988 728 976 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999876 0.05% 0.04% $112 538 652 807 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82% 25 $600.71 -1.48% -3.77% $88 655 869 420 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 76.8% 40 $141.66 -5.86% -10.85% $65 417 369 361 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 91.6% 3 $1.000358 0.04% 0.04% $32 524 163 418 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 78.8% 31 $0.504740 3.29% 1.90% $28 048 618 997 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 70.4% 61 $7.58 -5.28% 5.11% $18 476 118 258 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 67.2% 61 $0.126978 -7.45% -12.13% $18 380 493 762 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 79.2% 40 $0.399356 -4.11% -9.09% $14 270 747 085 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 57.2% 94 $0.000019 -8.42% -16.37% $11 268 857 942 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 73.2% 58 $28.17 -6.43% -12.44% $11 078 964 814 AVAX 7 days price change
13 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
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 88.4% 9 $0.116997 1.04% -0.13% $10 228 242 390 WTRX 7 days price change
15 TRON (TRX) TRX TRON predictions 92.8% 9 $0.116398 -1.15% -1.25% $10 158 405 033 TRX 7 days price change

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