Bitcoin Records New ATH at $67,000, as ETF Space Opens Up to BTC

21 October 2021 | Updated: 21 October 2021

Bitcoin (BTC) has had a ridiculously bullish session this week as it made history with its first US SEC-approved futures Exchange-Traded Fund (EFT).

ProShares Bitcoin Strategy ETF (BITO) launched on Tuesday amid volcanic fanfare and record-breaking ETFs volume. Yesterday, BTC recorded a new all-time high at $67,000 due to the excitement from the news.

As if the ProShares ETF approval was not news enough, VanEck published its Bitcoin futures ETF post-effective filing on Wednesday, indicating that the SEC has also approved the listing on NYSE Arca. The VanEck BTC Strategy ETF will have the ticker “XBTF” and leverage cash-settled Bitcoin futures contracts. The official VanEck ETF summarizes that the fund “does not invest in bitcoin or other digital assets directly.”

Shortly after the publication of the post-effective filing, co-founder of The ETF Institute Nate Geraci tweeted that: “Vaneck [is] joining the bitcoin futures ETF party next week.”

Commenting on the new developments, senior ETF analyst at Bloomberg Eric Balchunas explained that BITO has already entered “the top 30% of ETFs by assets and a near-lock to exceed my $750m by end-of-week estimate.”

VanEck decided to apply for a Bitcoin Strategy ETF on August 10, after several failed attempts to receive approval of a BTC ETF from the SEC. Some analysts speculate that VanEck’s ETF move came following positive statements from SEC Chairman Gary Gensler in the same week.

Key Bitcoin Levels to Watch — October 21

Although a few days (five) earlier than I predicted, the benchmark cryptocurrency has finally reemerged above the $65K ATH and painted a new one at $67K. Not surprisingly, BTC recorded a sharp correction a few hours ago to the $61.4K support as trading conditions entered overheated territories.

BTCUSD – 4-Hour Chart

That said, BTC is not out of the woods yet, and we could see additional corrections in the coming days near the $60K psychological support. Nonetheless, a break above the $67K ATH (which is also a near-term possibility) should pause this imminent correction as BTC would resume on a price discovery trajectory.

Meanwhile, our resistance levels are at $66,000, $67,000, and $68,000, and our key support levels are at $64,000, $63,000, and $62,000.

Total Market Capitalization: $2.63 trillion

Bitcoin Market Capitalization: $1.22 trillion

Bitcoin Dominance: 46.4%

Market Rank: #1

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Cryptocurrency Community in Frenzy Following Possible Indication of BTC ETF Approval by SEC

15 October 2021 | Updated: 15 October 2021

The US SEC triggered a frenzied reaction in the Bitcoin and cryptocurrency community yesterday, following a tweet by its official handle about investing in funds that hold Bitcoin futures contracts. The account (@SEC_Investor_Ed) tweeted that: “Before investing in a fund that holds bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits.”

The tweet cited an investor bulletin published in June by the SEC’s Office of Investor Education and Advocacy and the Commodity Futures Trading Commission’s (CFTC’s) Office of Customer Education and Outreach. The bulletin urged that: “investors considering a fund with exposure to the bitcoin futures market to weigh carefully the potential risks and benefits of the investment.”

The recent tweet by the Commission raised optimism in spectators that the watchdog could approve a Bitcoin futures ETF soon. Reports show that the SEC should approve several Bitcoin strategy ETFs this month.

Commenting on the possible ETF approval, senior ETF analyst at Bloomberg Eric Balchunas noted that:

“Getting closer: The SEC just tweeted out an Edu bulletin they wrote back in June re bitcoin futures and ‘funds that hold bitcoin futures. Clearly [a] good sign, and we [are] upping our odds to 85%.”

Balchunas further noted that another sign that an ETF could get approved soon is that “Valkyrie just updated their bitcoin futures ETF prospectus (which typically only happens when ducks in [a] row [are] ready for launch). They added their ticker $BTF, altho no fee still. Can’t say this is done deal type evidence but a good sign IMO.”

Some Cryptocurrency Community Member Remain Skeptical Over BTC ETF Approval

However, some spectators cautioned that the SEC’s recent tweet might not necessarily indicate a BTC ETF approval citing a similar tweet by the Commission in June.

Economist and crypto analyst Alex Kruger opined that: “Market interpreting this SEC post as odds of bitcoin futures ETF increased dramatically but note, the SEC had posted the same thing back in June.”

Nonetheless, the crypto community is optimistic that the watchdog will approve the pending BTC ETFs considering that SEC Chair Gary Gensler has indicated his openness to the idea of it.

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Ways to trade Bitcoin – Everything you should know

24 July 2021 | Updated: 31 July 2021

Bitcoin is the biggest cryptocurrency in the world and is among the most popular digital coins among traders. For many, Bitcoin is a great investment option. Released back in 2009, Bitcoin is known for paving the way for other altcoins in the market.

Cryptocurrency has seen a huge transformation in recent years. While some still remain to be skeptical about Bitcoin, this digital coin has many times proved that it can be a great option for investment.

But, how exactly do you trade Bitcoin? There are quite a few ways you can invest in Bitcoin and use it to earn profits. For example, you can sign up on one of the many crypto exchanges in the market, make deposits and start buying and selling cryptocurrencies. You can also trade Bitcoin CFDs, which offer you the ability to speculate on the price movements in the market.

No matter which option you choose, you will always be required to do adequate research to make correct predictions and open the right orders.
Crypto exchanges
One of the most popular ways of trading Bitcoin is using crypto exchanges. There are numerous of them available in the market and they make your job very easy. There are numerous crypto exchanges in the market, among them are Binance, Kraken, Coinbase, and many others.

Getting started at these exchanges should not be a problem. Creating an account should not take more than a few minutes, after which, you will have to wait a day or two for verification. Then, all you have to do is to deposit funds and start trading crypto.

After trading and making profits, you can withdraw your Bitcoins from your favorite wallet. There are numerous software wallets offering you high standards of safety and security. In most cases, you should also be able to withdraw your funds in fiat currencies, but it largely depends on the crypto exchange you are using.

Best trading strategies for Bitcoin
Adopting a proven and useful strategy for Bitcoin trading is very important. Because the market is so volatile, trading can get quite emotional. By having a specific plan beforehand, you can make sure that you follow your initial thoughts and decisions without making emotional decisions.

There are two main ways you can trade crypto, one is trading crypto-asset spot, and the other is trading it with margin. A trading spot is a great option for those who prefer to avoid huge risks, it basically means buying cryptocurrency and holding it for as long as you like.
Trading Bitcoin with margin usually happens using futures contracts or CFDs and offers you the ability to increase your potential profits. But, you should not forget that in addition to increasing profits, margin trading also increases the risks of trading.

Depending on the way you trade crypto, you can better choose which trading strategy fits you best. For example, if you are a spot trader, you should know that one of the best strategies to choose is long-term trading, or simply holding cryptocurrency for a long time. On the other hand, if you prefer short-term trading with a margin, it might be better to trade using CFDs or futures.

However, remember that trading crypto is not an easy task as it takes a lot of time to really understand how the prices are moving and how the market is reacting to different types of events around the world. But, there are some things that can make trading easier for you.

Trading Bitcoin with bots
There is a certain limit when it comes to the data a human can analyze in a short time. On the other hand, crypto trading bots can analyze huge chunks of data in a very short time. There are numerous trading bots that you can use to minimize the time spent analyzing the market.

There are numerous trading bots available in the market that can help you trade crypto more efficiently. One of such trading bots, which is known for its high standards of safety and security, is Bitsgap’s trading bot.

The trading bot created by Bitsgap is capable of not only analyzing the market data but is also able to actually trade crypto for you. The trading bot uses different types of strategies and can be used in both uptrend and a downtrend, which makes it a great fit for traders.

Bitsgap crypto trading bot can be used with over 25 crypto exchanges in the market, including those like Binance, Kraken, and many others. You can create a trading strategy with this bot in just a few clicks and you can always backtest your strategy before applying it to your actual trades.
Earning profits
Depending on the trading strategy you choose, you can receive both short-term and long-term profits with crypto trading. Let’s say that you have decided to trade crypto using a long-term trading strategy. This means that you will be buying Bitcoin at a low price and hold it for as long as you want, until the price increases.

As the price is up and you believe that it is time for you to sell your Bitcoin, you will be able to earn profits according to the difference between the buy and selling prices.

On the other hand, using short-term trading strategies, you will be able to make profits quickly, however, keep in mind that these profits might not be a lot. In most cases, short-term traders prefer to use leverage and margin trading to increase the profits they make.

All-in-all, thanks to modern technologies, trading cryptocurrencies should not be that hard. Traders all around the world have access to this market and all you have to do to become a part of this market is to sign up with one of the leading crypto exchanges in the market.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Ark Invest Joins Race to Launch First Bitcoin ETF in the US

29 June 2021 | Updated: 29 June 2021

Famous investment company Ark Invest has just announced a Bitcoin ETF filing with the SEC. The firm revealed that it partnered with 21Shares in its ETF undertaking because of its experience in this field.

The proposed BTC ETF will get listed as ARK 21Shares Bitcoin ETF. The proposed ETF will track the performance and price of the benchmark, offering BTC exposure for regulated markets.

While Bitcoin has remained in a range-bound momentum for a while now, crypto-based funds and experts predict a spike in demand and price soon. Cathie Wood, the founder of the investment company, is a big Bitcoin fan, and much of Ark’s holdings reside in crypto companies like Coinbase and Bitcoin itself.

Wood recently predicted that Bitcoin could hit $500,000 because of its inherent properties while admitting that it could take a while for this prediction to come true given the current state of the market.

Ark Invest’s Bitcoin ETF Filing Comes Amid SEC Apathy

Ark Invest has become the latest of several companies to apply for a BTC ETF this year alone. Other companies awaiting approval of a Bitcoin ETF include Galaxy Digital, VanEck, Fidelity, SkyBridge Capital, NYDIG, WisdomTree Investments, and BitWise. The US Securities and Exchange Commission is yet to approve any and has delayed giving a verdict on some.

Meanwhile, SEC Chairman Gary Gensler asserted that the cryptocurrency sector still requires a comprehensive regulatory framework. The Chairman recently stated that:

“This is a quite volatile one might say highly volatile, asset class and the investing public would benefit from more investor protection on the crypto exchanges.”

That said, analysts and experts doubt the possibility of seeing the approval of a BTC ETF this year. The SEC argues that most of the problems it highlighted in Bitcoin, including price volatility and market manipulation, a long while ago still exist.

Nonetheless, asset managers will continue to jostle for the opportunity to launch the very first BTC ETF in the US.

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

US-Based Bitcoin ETF: Galaxy Digital Joins the Race for SEC Approval

12 April 2021 | Updated: 12 April 2021

The race by companies in the US to attain approval to launch a Bitcoin (BTC) exchange-traded fund (ETF) continues to intensify, as Mike Novogratz’s Galaxy Digital files with the US SEC. If it gains approval from the regulator, the Galaxy Bitcoin ETF will trade on the NYSE Arca exchange.

Galaxy Digital, which is based in New York, is a diversified financial services provider with a keen focus on the cryptocurrency and blockchain industry. With its recent filing with the Securities and Exchange Commission, the company has reaffirmed its pro-crypto stance.

According to Galaxy Digital’s press release, the Galaxy Bitcoin ETF will issue common shares of beneficial interest that are traded on the NYSE Arca once it gets approved. The performance of the shares will be pegged to the performance of the Bloomberg Galaxy Bitcoin Index, which features multiple pricing sources.

Galaxy Digital noted in its report that:

“In seeking to achieve its investment objective, the Trust will hold bitcoin and will value its Shares daily based on the value of the Index, which is calculated based on data from bitcoin pricing sources selected by Bloomberg Index Services Limited.”

Canada Is More Receptive to Bitcoin ETFs than the US
Galaxy Digital’s recent ETF application brings the total number of companies in the race to launch the pioneering BTC ETF to eight. That said, the SEC is yet to approve the first such project, VanEck, since March.

Meanwhile, Canada has approved several BTC ETFs, as the country maintains a crypto-friendly stance. Already, there is a version of the Galaxy Digital asset trading in North America. Galaxy Digital entered into a partnership with CI Global Asset Management to launch the CL Galaxy Bitcoin ETF on the Toronto Stock Exchange (TSX) on March 9.

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.