Daily Crypto Update 10/21/21
My favorite verb? - Mooning -
💰Bitcoin hit a new ATH, Ethereum and crypto shares follow the rally
It seems like the price of the first cryptocurrency by market cap is skyrocketing. Yesterday Bitcoin broke its previous AHT at $64 804, reached on April 14, just to hit a new ATH at $66 930 according to CoinMarketCap.
Just a few months ago BTC was changing hands at $30 000, 50% down from its highest position. The main reason for the drop was China FUD and Tesla's ecological concerns around crypto mining.
However, it looks like the crypto investors are bullish - Bitcoin took Ethereum on its rally as well. The second-largest cryptocurrency by market cap was trading at $4239, very close to its ATH at $4362.
On the top, the crypto-related shares saw an increase as well. Coinbase was trading at $315, an increase of 29%. Square at $255.35.
💰VanEck: the second Bitcoin futures ETF
The SEC is such an enthusiast when it comes to crypto futures ETFs. After Invesco delayed its Bitcoin futures application, the regulator gave the green light to VanEck. VanEck’s Bitcoin Strategy ETF will be traded on the New York Stock Exchange on October 25.
On Tuesday ProShares launched the first Bitcoin ETF in the US after the SEC gave its approval last Friday. The new asset hit a trading volume of nearly $1 billion on its first day of trading.
💰FCA warning about crypto through TikTok and YouTube
Each regulator had its own crypto-related issues but for sure all of the agencies want to protect the retail investor even though no one asked for their help. Now the British financial regulator FCA launched a campaign on TikTok and YouTube to warn young investors about cryptocurrencies and their risks.
A spokesman from the FCA said that the campaign aims to inform investors about the volatility of the crypto markets. “We want to create confident consumers. This campaign is about empowering younger investors, not inhibiting them” - said the executive director of the FCA.