Bitcoin saw a sharp rise over the weekend and this morning after it was confirmed that regulators in the US will not file an appeal against Grayscale for creating a Bitcoin ETF.
The price of bitcoin had a downward trend over the course of seven days, when it started just above 27,500 US dollars and reached 26,300 dollars. Lately, the bag has wiped out all losses, and the cryptocurrency is once again trading just above $27,500 on eToro.
Ether bag last week saw a drop. The pot, which started at values above $1,600, has moved 3% over seven days and is now trading around $1,560.
First in the US, Grayscale’s ETF concerns have potentially very significant consequences for the Bitcoin market. The race for ETF approval with a spot price has been the dominant race for the bitcoin market for several months.
While the nice brnz is falling, investor hopes are still growing, so we hope that we can get this product on the market as soon as possible.
Simon Peters, eToro crypto market analyst
2023-10-16 09:33:19
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