Bitcoin
BTC$22 729.54

-4.30%

Ethereum
ETH$1 560.97

-4.92%

Tether
USDT$1.000083

0%

Binance Coin
BNB$305.42

-3.96%

USD Coin
USDC$0.999972

0%

XRP
XRP$0.392690

-4.91%

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 61.2% 78 $22 729.54 -4.30% -0.91% $438 166 694 164 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 62.4% 80 $1 560.97 -4.92% -4.16% $191 022 338 021 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $1.000083 0% -0.01% $67 781 650 084 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 68.8% 59 $305.42 -3.96% -0.18% $48 226 570 306 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94% 1 $0.999972 0% -0.01% $42 707 214 114 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 66.8% 65 $0.392690 -4.91% -7.98% $19 950 057 993 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $0.999844 -0.04% -0.03% $15 729 733 089 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 67.6% 70 $0.370821 -6.20% -1.49% $12 828 075 578 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 67.6% 61 $0.086818 -3.52% -1.88% $11 518 194 850 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 65.2% 71 $1.074457 -8.22% 7.81% $9 384 646 732 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 59.6% 91 $23.73 -9.58% -2.65% $8 821 093 670 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 64.8% 78 $6.17 -6.72% -7.56% $7 107 936 803 DOT 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 71.2% 54 $90.43 -5.91% 0.15% $6 526 737 028 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 68% 69 $0.062057 -2.67% -0.98% $6 309 701 687 WTRX 7 days price change

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