After major dips and rises, Bitcoin reaches 60K after a journey of 6 months. Since April 2021, Bitcoin crossed the 60K mark for the first time. The United States is expected to start trading in the Bitcoin futures ETF in the next week, the reason for this is the increased Bitcoin price.
As per the Cointelegraph data, the prices of bitcoin were slow at the beginning of October. The prices ranged near $42,000 between 28 September to 1st October. The growth in bitcoin prices was noted after that. Bitcoin reached the $60,000 price on Bitstamp exchange at 5 AM. Bitcoin still lags 7% behind its all-time high price of $64,804.
As per the report by Bloomberg, there are positive indications for the bitcoin community. The securities and exchange commission might approve multiple bitcoin futures ETFs. By next week, the trading in bitcoin futures ETFs might begin. Countries like the USA might begin trade exchange using bitcoin by next week.
The imminent ETF approval rumors led to a price increase in the last week. Around $7000 increase was observed in the last seven days. It accounts for a 13% increase. That is from $53,000 to $60,000. The last two days witnessed the sharpest growth in bitcoin prices. In this duration, the price significantly increased from $54,000 to $60,000.
Indeed, it is a good sign for crypto investors. The increasing popularity and the prices shall promise investment in bitcoin futures ETFs.
