Bitcoin marches past $62,000 as ‘Uptober’ continues

Oct 18, 2021 By: BI India Bureau Credit: Canva

Bitcoin’s price has shot past $62,000

The cryptocurrency is up by 1.97 percent in the last 24 hours

Uptober is an homage to October being one of Bitcoin’s most productive months

Historically, Bitcoin finishes October on a high note with average gains of 13 percent Credit: Canva

US’ SEC may approve the first-ever Bitcoin futures exchange traded funds (ETF)

ETFs are a portfolio of cryptocurrency tokens...

But they trade in the traditional share markets rather than on cryptocurrency exchanges Credit: Canva

If the SEC allows it, ETFs could open the floodgates for more institutional investors

And, an even bigger rally for Bitcoin and its fellow altcoins

Aside from Bitcoin’s rally, the overall crypto market is trading flat today

It’s only up by 0.23 percent in the last 24 hours, settling at a value of $2.49 trillion

This trend is reflected in the rest of the cryptocurrencies

Ethereum is priced at $3,846

It’s in the red by 0.82 percent since yesterday

Binance Coin is valued at $469.98

The token is in the green by 0.81 percent — not a big move

Cardano continues to slip at $2.14

The cryptocurrency has dipped by 1.9 percent in the last 24 hours

Ripple’s XRP is priced at $1.09

It’s down by 3.87 percent in the last 24 hours Credit: Canva

Solana, the new ‘Ethereum Killer’, is worth $159.78

...which is 0.42 percent lower than yesterday Credit: Canva

Polkadot’s massive rally from last week seems to have settled

The cryptocurrency is trading flat, down by 0.3 percent, with a price of $42.49

Dogecoin continue to hang on to its 10th spot in the rankings

Its up by 0.4 percent at a price of $0.2383

Disclaimer

These are the top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of October 18, 9:00 am IST and may change over the course of the day Credit: Canva

Bitcoin remains strong — altcoins are waiting on it make the next move