Bitcoin marches past $62,000 as ‘Uptober’ continues

Oct 18, 2021 By: BI India Bureau

Bitcoin’s price has shot past $62,000

The cryptocurrency is up by 1.97 percent in the last 24 hours Credit: Business Insider India

Uptober is an homage to October being one of Bitcoin’s most productive months

Historically, Bitcoin finishes October on a high note with average gains of 13 percent Credit: Canva

US’ SEC may approve the first-ever Bitcoin futures exchange traded funds (ETF)

ETFs are a portfolio of cryptocurrency tokens...

But they trade in the traditional share markets rather than on cryptocurrency exchanges Credit: Canva

If the SEC allows it, ETFs could open the floodgates for more institutional investors

And, an even bigger rally for Bitcoin and its fellow altcoins Credit: Business Insider India

Aside from Bitcoin’s rally, the overall crypto market is trading flat today

It’s only up by 0.23 percent in the last 24 hours, settling at a value of $2.49 trillion Credit: Business Insider India

This trend is reflected in the rest of the cryptocurrencies

Ethereum is priced at $3,846

It’s in the red by 0.82 percent since yesterday Credit: Business Insider India

Binance Coin is valued at $469.98

The token is in the green by 0.81 percent — not a big move Credit: Business Insider India

Cardano continues to slip at $2.14

The cryptocurrency has dipped by 1.9 percent in the last 24 hours Credit: Business Insider India

Ripple’s XRP is priced at $1.09

It’s down by 3.87 percent in the last 24 hours Credit: Canva

Solana, the new ‘Ethereum Killer’, is worth $159.78

...which is 0.42 percent lower than yesterday Credit: Canva

Polkadot’s massive rally from last week seems to have settled

The cryptocurrency is trading flat, down by 0.3 percent, with a price of $42.49 Credit: Business Insider India

Dogecoin continue to hang on to its 10th spot in the rankings

Its up by 0.4 percent at a price of $0.2383 Credit: Business Insider India

Disclaimer

These are the top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of October 18, 9:00 am IST and may change over the course of the day Credit: Canva