In Brief:
- Prominent cryptocurrency Bitcoin marked up its new all-time high with $66,999.
- On Oct 19, Proshares had launched its first bitcoin-backed future ETF under the ticker of BITO.
- Bitcoin’s rise is also altering other Altcoins such as Ethereum as it is showing upward momentum in its price.
Yesterday, The top cryptocurrency, Bitcoin, marked its all-time high value after the heavy fall from the peak in April. Bitcoin once again marked new heights of $66,999 on Coinbase after the launch of the first Bitcoin-backed ETF (Exchange Traded Fund).
Before this, Bitcoin had marked its all-time high (ATH) value in April, at the market price of $64,899. After that Bitcoin showed a 30% sharp drop and since then it had generated a downfall momentum. The momentum resulted in a half-price of Bitcoin’s market value.
Since its heavy fall, Bitcoin again started to recover its fall and initiated uplifting momentum. Last month, Bitcoin again crossed the $50,000 bar. In the last 24-hours, Bitcoin goes 4.27% up.
The bustle has been shown after the launch of the first Bitcoin-based future Exchange-traded fund (ETF) from Proshares under the ticker of BITO. Many crypto intellectuals affirm that the Bitcoin ETF will attract many investors across the globe and it seems to be proven true many serious traders are investing in the ETF and it had generated a $1 billion volume on the very first day.
Bitcoin’s rise is also influencing other digital assets, Altcoins such as Ethereum. At the time of writing, Ethereum again started to soar in graphs and reached 4280.71. It may be possible that in the next few hours, Ethereum can jump to it’s all-time high value due to a surge in Bitcoin.
