Bitcoin hits a new ATH (all-time high). The price of BTC has officially crossed the $65K mark on Wednesday. The currency is trading at $66,135.
Bitcoin broke its final resistance and has now entered uncharted territory. The price of the coin has made a new historic record. The existing peak of April is now somewhere in the dust.
The long waited surge has brought a lot of optimism to the market. Crypto traders are now waiting for the ALT season.
BTC/USD pair was trading above $60,000 starting from last week. BTC had its highest weekly close ever on Sunday.
ETFs Paved the Way:
Bitcoin exchange-traded funds were given green light on Friday. The first Bitcoin ETF started to trade on Tuesday. ProShares Bitcoin Strategy ETF has become hugely popular. It was a classic ‘buy the rumor, sell the news’ moment for many.
Also Read: Bitcoin Dips Below $43K
Crypto traders are celebrating the pump on Twitter while praising diamond hands, a term used for holders who don’t sell in times of difficulty.
The halls of eternity echo with the cries of those who sold their #bitcoin.
— Michael Saylor⚡️ (@saylor) October 20, 2021
Bitcoin hits a new ATH amid rising crypto adoption. El Salvador made the currency a legal contender in September. Many other countries considering regulating Bitcoin in the best interest of their citizens
October, also termed as Uptober, was speculated to be a bullish month for bitcoin. The currency started to rise in the first half. After a spectacular rise in the first half of the month, BTC reached $65K on 20th October. It is currently keeping the uptrend.
Cryptocurrencies may face Price corrections but bitcoin season is definitely on. There are various price predictions for the parent cryptocurrencies with the most popular one of $100K