⬆The most popular cryptocurrency price approaches all-time high on US ETF expectations
Bitcoin hit $62,000 for the first time in six months during today's session, nearing its record high, as investors await the launch of an exchange-traded fund (ETF) based on its futures contracts which is seen as speeding up the mainstream adoption of digital assets.
If the US Securities and Exchange Commission (SEC) does not object, the ProShares Bitcoin Strategy ETF will complete a 75-day period since the fund manager filed plans and could begin trading on Tuesday. The ETF would allow retail and institutional investors to much more easily gain exposure to Bitcoin. More details regarding this topic can be found in our weekly Crypto newsletter.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Bitcoin price rose sharply during today's session however buyers failed to stay above $62,000 level and price pulled back slightly. Some analysts believe that this may be a classical "buy the rumour sell the fact" scenario, therefore a deeper pull back towards $56,860 or even major support $50,000 cannot be ruled out. On the other hand, if the current upbeat mood will prevail, then another upward impulse towards all-time high at $64,388 may be launched. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
