October 24, 2023 Bitcoin Price
The recent ascent in Bitcoin's price can be significantly traced back to actions surrounding BlackRock's iShares Exchange-Traded Fund (ETF). Here’s a closer look at how this unfolded:
Progression Towards a Bitcoin ETF by BlackRock
On Monday, the price of Bitcoin soared, hitting a 16-month pinnacle, fueled by BlackRock's substantial strides towards initiating its Bitcoin spot exchange-traded fund (ETF).
Price Escalation Following Rumored ETF Approval
There was a marked escalation in Bitcoin's price, skyrocketing to $30,000, in the wake of circulating rumors that BlackRock's iShares division had garnered the Securities and Exchange Commission's (SEC) nod for this groundbreaking Bitcoin spot ETF. This news disseminated rapidly, catalyzing a sharp price reaction.
Nasdaq Listing of Bitcoin ETF
The induction of BlackRock's spot Bitcoin ETF on the Nasdaq trade clearing firm further buoyed this bullish trend. Esteemed ETF analyst Eric Balchunas articulated that this induction is an element of the procedural process, signifying a step nearer towards the ETF's operational phase.
Projections of Continued Price Surge
In the aftermath of the BlackRock disclosure, Bitcoin's price catapulted to $34,000, with market pundits forecasting an attainable target of $42,000 for the cryptocurrency. This revelation not only propelled Bitcoin's price but also reverberated through other cryptocurrencies like Ethereum and Dogecoin, illustrating the substantial market ramifications of such institutional advancements.
These unfolding events underscore the profound influence institutional endeavors like BlackRock's iShares Bitcoin ETF exert on the cryptocurrency market, particularly on Bitcoin's price, showcasing the intertwined nature of institutional finance and the cryptocurrency domain.
October 23, 2023 Bitcoin Price Today
The Bitcoin price today varies slightly across different platforms, but it's in the ballpark of $28,000 to $30,450 as per the latest available data. On Coinbase, the price is listed as $28,453.32 and $28,116.29, while on Yahoo News, it's reported as $28,354.
In terms of recent news surrounding Bitcoin, various events and analyses have emerged that could be of interest to you:
- Market Volatility Ahead of Halving: An analyst warns of a possible 50% drop in Bitcoin's price ahead of its halving event. Conversely, another prediction suggests a significant rally could be on the horizon, potentially leading to a 570% increase in Bitcoin's value.
- Price Touching $30,000: The price of Bitcoin touched $30,000 for the first time since August earlier this week, amidst broader market anticipation of a 'huge shift', which is described as a $15.6 trillion earthquake affecting the cryptocurrency market.
- False ETF Approval News: There was a recent spike in Bitcoin's price following misleading news about BlackRock's Bitcoin ETF approval, which temporarily pushed the price from $27,900 to $30,000. This fake news led to approximately $100 million in trading liquidations within an hour.
- Price Surge on False News: In another instance, a false news report led to a surge in Bitcoin's price, later followed by a correction once the news was debunked.
These news pieces underscore the volatile nature of the cryptocurrency market and the significant impact that external factors and news can have on Bitcoin's price. If you're looking to stay updated on Bitcoin's price and news, it's essential to follow reputable sources and perhaps consider subscribing to alerts or newsletters from trusted cryptocurrency platforms.
October 20, 2023
The price of Bitcoin today is seen to oscillate between roughly $27,697 and $29,193, according to various valuations from different platforms. It's a notable point that cryptocurrency prices can be highly unpredictable, often altering swiftly within brief spans.
Regarding recent news around Bitcoin, several key events have occurred:
- Anticipation of ETF Approvals:
- Bitcoin's price witnessed a notable surge over the past week, driven partly by the anticipation concerning the potential approval of multiple spot Bitcoin ETF (Exchange-Traded Fund) filings.
- Market Analysis:
- A market analysis highlighted that Ethereum's losing streak against Bitcoin reached 15 months, with the buzz surrounding Bitcoin ETF and halving events enhancing BTC's demand compared to Ethereum.
- Security Upgrade with BIP324:
- On October 8, 2023, it was shared that Bitcoin is set to become more secure with the integration of Bitcoin Improvement Proposal (BIP) 324. This upgrade is anticipated to significantly bolster the security of the Bitcoin peer-to-peer network.
- Misleading ETF Approval News:
- A significant price movement was observed following a false report regarding the approval of a Bitcoin spot ETF by BlackRock. The misleading news propelled Bitcoin's price from $27,900 to $30,000, resulting in about $100 million in trading liquidations within an hour.
- False Report Impacting ETF Speculation:
- Additionally, Bitcoin's price was markedly impacted by a false report that a long-awaited Bitcoin spot ETF had been green-lighted by the U.S. Securities and Exchange Commission. This news seemed to have sent waves through the market, further underlining the speculative nature surrounding ETF approvals and their influence on Bitcoin's price.
These recent occurrences exemplify the dynamic and speculative character of the Bitcoin market, where news and developments can significantly sway price movements and investor sentiment.
Matt is the founder of TechMalak. When he's not buried face-deep in the crypto charts you can find him tinkering with the latest tech gadgets and A. I tools. He's a crypto investor and entrepreneur. He uses a mixture of A.I and human thought and input into all his articles on TechMalak, further merging man with machine.
