Bitcoin News, Cryptocurrency News, Ethereum, Market Analysis

Bitcoin & Ethereum Preparing For Huge Bull Run – Market Price Rapidly Increasing.

The price of Bitcoin [BTC], Ethereum [ETH] along other cryptocurrencies entered October with a bull run after a critical month in September.

The price of the leading cryptocurrency, Bitcoin, is presently hovering over $ 50,000 per bitcoin for the first time since the beginning of September while the price of Ethereum is approaching $ 3,500 per ether after falling as low as $ 2,600 last month.

 

Bitcoin & Ethereum Preparing For Huge Bull Run - Market Price Rapidly Increasing.

1-Day Ethereum Price Chart – Source: CoinMarketCap

Bitcoin & Ethereum Preparing For Huge Bull Run - Market Price Rapidly Increasing.

1-Day Ethereum Price Chart – Source: CoinMarketCap

Now, speculation is circulating among the bulls of bitcoin, Ethereum, and cryptocurrency that the long-awaited US bitcoin (ETF) trading fund can be approved in October – with expected decisions in the clutch for ETF applications.

“After the August 3 quotes from US Securities and Exchange Commission chairman Gary Gensler, the future ETF looks set to be approved from now on, so the bonnet response to the ETF in October could be a good time to follow.” Arcane Research analyst Vetle Lunde wrote this week. There are responses to five ETF applications from the SEC pending in October, and a few more to be released in November and December.

In early August, Gensler said the future of the bitcoin ETF compliant with the SEC’s strict rules on mutual funds could be the way to approval. Since 2013, the SEC has rejected several attempts to create an ETF for bitcoin, citing price control.

Predicting bitcoin and crypto traders, Lunde said, “The bitcoin market could soon heat up due to the anticipation of the ETF ruling.”

Meanwhile, independent research boutique Fundstrat noted this week that Gensler appears to be receptive to the idea of ​​a bitcoin futures ETF and that such a fund may attract more attention than weak interest in bitcoin mutual funds.

Fundstrat analysts linking bitcoin, Ethereum, and crypto wrote, “The great thing here is that it doesn’t matter how much capital flows into these futures-based ETFs, as long as the spot market for bitcoin has better sentiment.” gets promoted.” Bears begin to hibernate in the fall.”

Fundstrat head of research, Tom Lee, previously reported that the price of bitcoin would hit $ 100,000, a level set by some observers of the bitcoin and cryptocurrency markets.

“We are focused on our view that any close sale is an opportunity to increase your position as we expect to be at risk by the end of the year so that we can get our best out of both bitcoin and Ethereum,” a Fundstrat report read.

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