Bitcoin Touches 1.5-Year-High Value Of $35,000

Kindly note that the largest cryptocurrency in the world, Bitcoin surged 10 percent taking its value to a one-and-a-half-year high after Bitcoin ETF (Exchange-traded fund) speculated that the US SEC would not appeal a ruling. Reportedly, on Tuesday morning, Bitcoin increased by 11.86 percent taking its value to approximately $35000. To be precise, Bitcoin surged to $34,322.47, said CoinMarketCap. Notably, Bitcoin gained a total of 21.33 percent in the past seven days. On October 24, Bitcoin touched a one-and-a-half-year high value. A day earlier, Bitcoin increased 10 percent on the back of the speculations about its exchange-traded fund. Cryptocurrency enthusiasts have been keen to know more about the anticipation. Let’s delve deep into the details and find out more details. Shift to the next section and read more details.

Bitcoin

As a result of Bitcoin’s surge, the crypto-linked stocks also surged while some short sellers quit positions after the increase. Although Bitcoin was not the single cryptocurrency to grow over the past few weeks, the other cryptocurrencies Coinbase and MicroStrategy surged in the United States trade. To note, Ether grew by 6 percent and touched its two-month-high value. The anticipation in the market was increased by several news reports about the US SEC (Securities and Exchange Commission) not appealing a ruling it was wrong to reject an application from Grayscale Investments. Swipe down the page and unfold more details.

Reportedly, a spot bitcoin is being observed as positive for in-flows in the space for an increased number of investors without direct trading exposure. The CIO of crypto asset manager Astronaut Capital, Matthew Dibb said, “The market is doing its best to front-run the approval of a physical BTC ETF, with the consensus being that it will happen sometime in the next three months, if not sooner,” Continue reading this article for more details. Scroll down.

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Many companies have bitcoin ETF (exchange-traded fund) applications pending. Those companies are ¬†Bitwise, BlackRock, Fidelity, VanEck, Invesco, and WisdomTree. MD of research at Grayscale Investment Zach Pandl said, “We have seen recent¬†geopolitical tensions drive demand for scarce assets, including both physical gold and bitcoin, which many investors view as digital gold,” While Dibb said Coinglass depicts heavy shedding of bitcoin short positions in 24 hours amid Israel-Hamas War and escalating situation in the Middle-East. Geopolitical tensions have been impacting the demand for scarce assets including bitcoin and yellow metal. Stay tuned to this website for more details and further updates.

Amzad Khan
Amzad Khan

Hey there, guys. I am Amzad Khan. I enjoy writing on topics related to my interests in gaming and technology. My work has attracted a dedicated fan base thanks to the fresh and unexpected angle I bring to each piece.