Bitcoin price live: Crypto analyst makes ‘parabolic’ prediction as BTC nears all-time high
The price of bitcoin is rapidly closing in on a new all-time high after another surge at the start of the week.
The cryptocurrency is now less than $2,000 away from the $64,000 record it hit back in April, following a remarkable recovery that saw it crash below $30,000 in July.
The overall crypto market is also approaching an ATH, reaching above $2.5 trillion on Monday morning and continuing to climb on Tuesday. Several leading cryptocurrencies have also seen big gains, most notably Ethereum (ether), Binance Coin and Polkadot (DOT).
Several prominent analysts believe the latest rally is the beginning of a major bull run that will see bitcoin and other cryptocurrencies blast past their previous records in the final months of 2021.
One of the most notable price prediction models, made by pseudonymous Dutch analyst PlanB, puts bitcoin on track to hit six figures within the next two months.
We’ll have all the latest news, analysis and expert price predictions right here.
Bitcoin futures ETF launches today
Today is the day that the long-awaited, first-of-its-kind bitcoin futures exchange-traded fund (ETF) launches on the New York Stock Exchange.
It’s a massive milestone for the crypto industry and will open up BTC to a whole new realm of investors, while also paving the way for more cryptocurrency ETFs in the future. There could even be a further three this month.
We’ve heard from Paolo Ardoino, CTO of cryptocurrency exchange Bitfinex, who describes the launch as a “turning point” for bitcoin.
“As the digital token space evolves, we are seeing increased interest in the concept of a bitcoin ETF, as evidenced by some high-profile global launches. This has not only marked a turning point for the onboarding of institutional investors but is also a clear sign of bitcoin‘s maturity,” he says.
“Bitcoin ETFs may be a significant stimulant for the future of digital token uptake, bringing more investors as well as inspiring the sharing of knowledge within the space. Institutional investors are already driving volumes on exchanges and many expect adoption to skyrocket now that exposure and access to bitcoin will be so readily available.”
Anthony Cuthbertson19 October 2021 07:36
Bitcoin price hits all-time – in Japan
The price of bitcoin has hit a record all-time high on Tuesday, though not officially.
The cryptocurrency achieved the feat on an exchange in Japan, where demand appears to be soaring ahead of the launch of the bitcoin futures ETF later today in the US. Investment podcaster Preston Pysh registered bitcoin above $70,000 on one Japanese exchange, but going by CoinMarketCap’s more representative price index, BTC is still just under $2,000 away from hitting a new all-time high this morning.
Anthony Cuthbertson19 October 2021 07:22
Bitcoin price up more than 100% since July
Bitcoin’s remarkable gains this month mean it has now more than doubled in price since the April-July crash took it below $30,000.
After cresting and dipping in September, bitcoin has followed the form of previous years by shooting up in price in October. Historically, November has been its strongest month, with average gains of 53 per cent since 2011, while December also typically sees a significant price increase for the cryptocurrency. Many investors will be hoping it will do the same again this year to cap off a record-breaking 2021.
Anthony Cuthbertson18 October 2021 17:23
Crypto experts predict new record bitcoin price this week
With bitcoin still teasing its all-time high, we’ve reached out to two crypto experts to hear their thoughts on whether we’ll see a new record price high in the coming days.
“A lot of good news has already been price in, although with bitcoin’s all-time high just $2,000 away a fresh attempt to break this is very likely to happen in the short term,” says Nicholas Cawley, an analyst at foreign exchange firm DailyFX, who believes there could be “repeated fresh bitcoin highs” over the next couple of months.
You can read the full story here.
Anthony Cuthbertson18 October 2021 17:07
When will bitcoin price peak?
For many bitcoin advocates, breaking the price record in 2021 is a question of if, not when. For them, the real questions are how high will it go and when will it crash?
By one analyst’s estimations, the peak of this current market cycle will be hit at some point in mid December, as this is 150 days from the mid-cycle low seen in July – presuming the all-time high is breached.
By TechDev’s calculations, bitcoin will reach $70,000 at some point next week, before hitting $90,000 in November. There will then be a slight dip back to the $60,000 range, he claims, before a “parabolic run up” to a peak of $250,000.
Anthony Cuthbertson18 October 2021 13:22
How bitcoin and crypto market caps stack up
With the cryptocurrency market now above $2.5 trillion, it is now worth more than all of the world’s most valuable companies.
Bitcoin alone ranks ahead of Facebook and Tesla, with only Amazon, Alphabet (Google), Saudi Aramco, Microsoft and Apple beating its market cap. Its recent price surge means its market cap is now just $20 billion away from its all-time high.
Excluding precious metals – gold and silver have a market cap of $11.19 trillion and $1.3 trillion respectively – here’s how the top assets stack up.
Anthony Cuthbertson18 October 2021 12:25
Bitcoin price and crypto market tease all-time high
Bitcoin has hit a new six-month high, hitting $62,614 on Monday morning according to CoinMarketCap’s price index, leaving it less than $2,000 away from its all-time high.
It has helped push the overall crypto market cap above $2.5 trillion, which is now also teasing its own record high.
The cryptocurrency space is no longer dominated by bitcoin in the same way it was when the last peak was seen back in April.
Today, BTC only represents just over 40 per cent of the total crypto market capitalisation thanks to massive gains seen by Ethereum (ether), Cardano (ada) and other leading altcoins. This means we’ll likely see the crypto market hit a new high before bitcoin does.
Anthony Cuthbertson18 October 2021 09:41
Hello and welcome…
to The Independent’s live coverage of the crypto market. Bitcoin appears to be closing in on a new all-time high on Monday after experiencing a huge price surge in the first half of October 2021.
The world’s leading cryptocurrency is up more than 40 per cent over the last two weeks, with other top cryptocurrencies like Ethereum (ether) and Cardano (ada) also seeing major gains.
We’ll have all the latest news, market analysis and expert price predictions throughout the day right here.