BTCUSD on TradingView.com<\/a><\/pre>\nBTC is making great strides in recovery and has once again surpassed expectations for it. The market was expected to slide into a prolonged bear market but the asset has shaken off the bears. At this point, bitcoin is less than 10% away from a new all-time high.<\/p>\n
At the time of writing, BTC is trading a little below $60K at $59,919, with a total market cap of $1.129 trillion. The crypto market cap has not been left out of this recovery as the total market cap now sits at $2.45 trillion.<\/p>\n
Featured image from Pixabay, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"Bitcoin has broken a new five-month high on Friday after breaking above $60,000. The digital asset had begun its ascent weeks prior at the beginning of October, a historically bullish month for cryptocurrencies. This rally has been mostly driven by rumors that the SEC is set to approve the first Bitcoin ETF in the United States. With news like this circulating in the market, traders have ramped up their activities in the market. The rumors have triggered massive buying activities in the market and this has led to the price rally we are currently witnessing in the market. Related Reading |\u00a0Bitcoin Whales Accumulation Patterns Shows Strong Bullish Sentiment Among Top Holders Bitcoin has long been expected to break this price point but has encountered multiple roadblocks that have beaten the price back down. A significant point was the $52K market which the digital asset had broken back at the beginning of September. Expectations were that the asset would ride the wave up to $60K. However, a market crash had dragged the price back down towards the $40K price range. Buy The Rumor, Sell The News? Investors have been buying the rumor leading up to the SEC\u2019s ETF decision. This has contributed greatly to the current rally. Order books are filled to the brim as investors, old and new, put more money into the market. BTC\u2019s recent price gains have however raised questions with regards to the current market dynamics. Some have put forward that the market is responding to people buying the rumor. But that when the news of a bitcoin ETF approval arrives, investors who have been hoarding through the past couple of weeks will dump their bags as they sell the news. Related Reading | Why We Could See The First Approved U.S. Bitcoin ETF In October Concerns have been raised over this and investors are wary of the market dynamics. Nevertheless, others have said that this is only the beginning of the rally. If the market indicators are anything to go by, then the market will likely be riding out this bull to the first quarter of 2022. Bitcoin Price Movements Bitcoin has now touched above $60,000 for the second time on Friday. It had previously hit the price point but dip shortly after to the high $59K. The price had subsequently recovered above $60K, peaking at $60,351, according to TradingView. BTC price breaks above $60K for new five-month high | Source: BTCUSD on TradingView.com BTC is making great strides in recovery and has once again surpassed expectations for it. The market was expected to slide into a prolonged bear market but the asset has shaken off the bears. At this point, bitcoin is less than 10% away from a new all-time high. At the time of writing, BTC is trading a little below $60K at $59,919, with a total market cap of $1.129 trillion. The crypto market cap has not been left out of this recovery as the total market cap now sits at $2.45 trillion. Featured image from Pixabay, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":473865,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,532,679,1119,1144,78790],"class_list":["post-473864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n
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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Breaks $60,000 Ahead Of SEC ETF Approvals","url":"http:\/\/ktsl888.com\/news\/bitcoin-breaks-60000-ahead-of-etf\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-breaks-60000-ahead-of-etf\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/bitcoin.jpeg?fit=960%2C576"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin etf","bitcoin price","btc","btcusd","btcusdt"],"dateCreated":"2021-10-15T17:00:20Z","datePublished":"2021-10-15T17:00:20Z","dateModified":"2024-06-11T13:59:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Breaks $60,000 Ahead Of SEC ETF Approvals\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-breaks-60000-ahead-of-etf\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-breaks-60000-ahead-of-etf\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/bitcoin.jpeg?fit=960%2C576\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin etf\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2021-10-15T17:00:20Z\",\"datePublished\":\"2021-10-15T17:00:20Z\",\"dateModified\":\"2024-06-11T13:59:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/10\/bitcoin.jpeg?fit=960%2C576","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/473864"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=473864"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/473864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/473865"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=473864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=473864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=473864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}