Today is Tuesday, 20th October, and this is Cointribune’s Crypto analytics. You will learn about everything that’s been going on in the market, as well as what to expect next in our new article! If you’d like to read the previous instalment, please follow the link. Off we go!
Bitcoin’s value continues to climb. It almost hit a record $64,500 yesterday, which means we are only a couple of hundred dollars short of its new ATH. The cryptocurrency is changing hands at around $63,900 at the moment of writing.
This latest surge coincides with the anticipated ProShares Bitcoin ETF going live on the New York Stock Exchange this week. Almost $1 billion of shares changed hands over the first session. Many analysts believe that we will see several more Bitcoin ETFs in the near future.
Investors are bullish on Bitcoin — just yesterday an order for 10,000 went through even before making it to the charts. Such sales indicate an extraordinarily high demand for the asset.
However, market euphoria is obvious. Trade with caution — as of now this is still a market which has not given signs of a breakdown but make sure to always remember about stop losses.
Ethereum’s price range for the last 24 hours is $3,600-$4,000. There is an inverse head and shoulders on the chart, which is a sign of bulls getting ready to attack. The cryptocurrency is changing hands at around $3,880 at the moment of writing. A new Bitcoin ATH might cause Ethereum’s price to spike.
Since the overall crypto market is approaching an ATH, there’s no time to rest. Bitcoin may very well start to chase $70,000 in the near future. But no infinite growth is ever possible in any market, so remember — a lesser profit is better than no profit at all.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
|BITCOIN (BTCUSD) ₿||$21,319.63||1.07%|
|ETHEREUM (ETHUSD) Ξ||$1,224.86||7.07%|
|IMM. US (REIT)||$2,445.30||2.12%|
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