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Ethereum
ETH$1 296.86

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USDT$1.000054

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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 84% 26 $18 954.19 -0.85% -3.69% $363 170 326 097 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 71.6% 54 $1 296.86 -3.33% -5.90% $158 895 113 066 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $1.000054 0% 0% $67 958 370 744 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000099 0.02% 0% $49 598 147 661 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 88% 15 $275.55 -0.88% 0.94% $44 457 076 668 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 62.4% 74 $0.502289 0.18% 27.23% $25 038 488 617 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $0.999580 -0.04% -0.15% $20 508 638 534 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 80.4% 33 $0.451128 -2.03% -3.38% $15 442 614 963 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 80.8% 28 $32.92 -2.14% 1.78% $11 674 869 153 SOL 7 days price change
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11 Dogecoin (DOGE) DOGE Dogecoin predictions 88.8% 14 $0.062123 -3.39% 3.63% $8 241 886 870 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 76.4% 41 $6.25 -3.26% -7.59% $6 998 238 426 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 92.4% 1 $0.999822 0.01% 0.01% $6 929 280 255 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 72% 55 $0.752062 -2.34% -5.51% $6 568 747 961 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 79.2% 42 $0.000011 -4.59% -2.47% $6 136 754 331 SHIB 7 days price change

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