Bitcoin price smashes all-time high and Ethereum looks set to follow – live

This has been a big 24 hours for the cryptocurrency market, with many other major altcoins looking to follow bitcoin’s all-time high with record-breaking price runs of their own.

Ethereum is now below $100 from its ATH, while Solana is also bullish on its own with gains of over 20 percent from yesterday’s time.

All the actions have pushed the overall crypto market above its previous record, breaking above $2.6 trillion for the first time in its history this morning.

Twitter CEO Jack Dorsey, a longtime crypto advocate, tweeted a moon emoji on bitcoin’s peak.

The emoji likely refers to the phrase ‘to the moon’, which refers to increasingly high growth.

Elon Musk made a similar reference in June 2021, showing an adult-themed cryptocurrency rising nearly 400 percent in ten minutes.

While the first bitcoin futures exchange trading has excited many, it has its critics, including: financial Times’ Robert Armstrong.

Armstrong says that many investors want the cryptocurrency process to function like a standard financial product. Citing an unnamed executive in the bitcoin funds industry, he argues that “the heart of the matter” is that investors’ pools of capital are in 401k or brokerage accounts, and the ways to access bitcoin are outside that system.

“Many investors want access and do not want to research the myriad custody options”, says the executive.

But Armstrong says that bitcoin is not a standard financial product; It is backed by complex technology and the source of its value is a “vehicle for pure speculation”, He writes.

“If you can’t be bothered to learn the unique subtleties involved in owning this stuff, you probably don’t understand the risks, and so you shouldn’t own it at all. Bitcoin ETFs shouldn’t exist.”

After a remarkable October, bitcoin has hit an all-time high. It has broken its previous record of $64,000, and continues to trade.

Full story here.

ProShares rings the bell on the first ever bitcoin futures exchange-traded fund in the US, which has now officially launched on the New York Stock Exchange.

The price of bitcoin appears to have already taken a major boost, rising over $1,000 to a new six-month high of $63,400 on CoinMarketCap’s price index just minutes ago.

It is near its all-time high since mid-April, which is now just over $1,000 away from being hit.

Bitcoin hit a new six-month high on Tuesday morning, reaching $62,944, according to the CoinMarketCap price index.

It has declined slightly over the past few minutes but the Bitcoin Futures ETF is still high on expectations and some analysts expect further gains.

Other crypto market experts are warning that the milestone may be a case of the old business adage “buy the rumour, sell the news”.

This was the case when El Salvador introduced bitcoin as legal tender in September, although the latter was much stronger than it was in the fall.

Today marks the launch of the long-awaited, first-of-its-kind bitcoin futures exchange-traded fund (ETF) on the New York Stock Exchange.

This is a huge milestone for the crypto industry and will open BTC to a new circle of investors, paving the way for more cryptocurrency ETFs in the future. There may be three more this month.

We’ve heard from Paolo Ardoino, CTO of cryptocurrency exchange Bitfinex, who described the launch as a “turning point” for bitcoin.

“As the digital token space evolves, we are seeing increasing interest in the concept of bitcoin ETFs, as evidenced by some of the high-profile global launches. This marks a turning point not only for institutional investors, but for bitcoin as well. There’s also a clear sign of maturity,” he says.

“Bitcoin ETFs could be a significant stimulator for the future of digital tokens, bringing in more investors as well as motivating them to share knowledge within the space. Institutional investors are already driving volumes on exchanges and Many people adopt it now hoping that access and access to bitcoin will be so readily available.

The price of bitcoin hit a record high on Tuesday, although not officially.

The cryptocurrency made the feat on an exchange in Japan, where demand is growing ahead of the launch of the Bitcoin Futures ETF in the US today. Investment podcaster Preston Pisch registered bitcoin above $70,000 on a Japanese exchange, but BTC is still less than $2,000 away from hitting a new all-time high this morning, according to CoinMarketCap’s more representative price index.

Bitcoin’s notable gains this month mean that its price has now more than doubled since the April-July crash, taking it below $30,000.

After cresting and dipping in September, bitcoin has followed the form of previous years by shooting up in price in October. Historically, November has been its strongest month since 2011 with an average gain of 53 percent, while December also typically sees significant price increases for the cryptocurrency. Many investors will be hoping that it will do the same again this year and reach the record-breaking 2021.

As bitcoin is still teasing its all-time high, we have reached out to two crypto experts to hear their thoughts on whether we will see a new record price in the coming days.

“A lot of the good news has already arrived, although a fresh attempt to break bitcoin’s all-time high of $2,000 away is likely in the short term,” says Nicholas Kavle, an analyst at forex firm DailyFX. , who believes there could be “repeatedly fresh bitcoin highs” in the coming months.

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