The price of Bitcoin has more than doubled from the lows we saw back in May and has now in fact reached a new all-time high of $67,000.
This comes off the back of the first US Bitcoin ETF (exchange-traded fund) launch, BITO, which started trading on October 19th.
With more ETFs due to launch in the coming weeks and months, there is great speculation that Bitcoin prices will continue to rise.
This, coupled with the fact that Bitcoin historically does very well in the final few months of the year is why many are anticipating even higher prices.
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Is a 6-figure Bitcoin on the horizon?
It’s safe to say that the crypto markets are no stranger to speculation.
In fact, due to the easy access of crypto platforms, speculation is more rampant than ever before as more users are pouring into the ecosystem.
With Bitcoin in price discovery after blasting through its previous all-time high, many are now asking whether BTC can reach the coveted $100,000 level by the end of the year.
As always, predictions are commonplace all over social media…
$BTC to $100,000 in Q4 🚀 pic.twitter.com/ex9a4v3JVx
— LilMoonLambo 🚀 (@LilMoonLambo) October 10, 2021
Just making sure that everybody knows #BTC will reach $100,000 by end of the year.
— Mahthemad (@mahthemad) October 20, 2021
As Bitcoin continues to grab headlines, this is likely to bring even more attention to the cryptocurrency markets.
With ETFs making it easier than ever before for institutions to gain exposure to this sector, it’s likely that prices will continue to rise in the weeks and months to come.
Even if prices retrace in the short term, the long-time trajectory for this space is upwards.
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