Bitcoin record against Euro | ETF launch at NYSE the largest in history
An incredible Shocktober . While altcoins remain relatively at the stake - and struggle to return to their all-time highs , we have Bitcoin which set a new record against the Euro and has been leaning against the dollar all day .
A situation - we repeat once again - that very few would have been able to foresee even during the last week - with $BTC confirming an incredible strength within a market that would still seem to have the ability to continue growing.
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The launch of the ProShares Bitcoin ETF? The most important in history for shifted volumes
Contrary to what several specialist finance magazines report, the launch of Proshares' BTC ETF at the NYSE was the biggest success in history for an Exchange Traded Fund . During the first day, the exchanges were in excess of one billion dollars , thus exceeding even what was historically referred to as the first, BlackRock 's ETF Carbon Transition Readiness , which had been traded for 1.25 billion dollars. , but with many subscriptions that were earlier than the market debut.
Calculations in hand, the first Bitcoin ETF in history has been the most successful in just under 30 years of the ETF market 's existence . And this is a signal of enormous importance for the whole sector and for those who have already invested in Bitcoin or are preparing to do so. All this while at moments also that of Valkyrie could be quoted, which still has to overcome some small obstacles of a bureaucratic nature.
Yes, for those who invest in Euro it was a new all-time high
The Euro has lost ground against the Dollar - at least if the comparison were to be made between May, the peak of $BTC, and today . As it is clear from the infographic that we report attached to our in-depth analysis.
And with the dollar with a negative outlook for practically all analysts , the record of $BTC also on the other front, the western one, could come very shortly even without a further boost from the purchases of small investors.
How much is a correction possible?
Difficult to say, even if the consensus among all the main analysts is that in the vicinity of $61,000 first and $58,000 then there are supports that are practically impossible to overcome even for the most ferocious and organized bears .
Our analysis - and the tools of technical analysis, which have no kind of doubt about the future of next week - also share an opinion that is still rising, following a trail that has been triggered since the beginning of the month.
What to watch today for those who want to follow the trend of Bitcoin
We at Criptocurrency.it will continue to follow minute by minute the evolution of a sector, that of Bitcoin and other cryptocurrencies, minute by minute, given the importance of the trading days we are experiencing now.
There will be several events in the financial world to follow that could have an important impact on that of cryptocurrencies and more generally of Bitcoin .
Opening of the USA stock exchanges
The European session has shown in recent days to have a slightly bearish if not neutral impact on the price of Bitcoin . This shouldn't be too much of a concern, as the price protection supports are very solid. Different speech at the opening of the US stock exchanges - which since yesterday is also the opening of exchanges on the main Bitcoin ETF.
Altcoin cycle
The dominance of Bitcoin is continuing to grow in important ways. Let's talk about the amount of capitalization of $ BTC on the total cryptocurrency market - a sign that we are in the phase of the cycle that favors Bitcoin . There could be a flashback of cryptocurrencies such as Ethereum , which in the event that they return to growth could give new life to the market - or cause Bitcoin to slow down slightly.
Grayscale is preparing to become an ETF
Important news also that comes from Grayscale with its Bitcoin Trust . The management company has launched yesterday at the NYSE procedures to transform its bottom in an ETF in effect, which will be listed on the Stock Exchange of New York .
A very important move, too, by the most important OTC fund in Bitcoin history - all this while there are nearly 10 other ETFs awaiting approval. What we are witnessing now could only be the springboard that will allow us to reach the Bitcoin forecasts reported by our specialists.