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Bitcoin Moves Past $57K; Crypto Surges 20% In A Week

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Over the previous day, crypto market cap saw an increase by over 1 percent, surging to $2.35 trillion. The volume in the asset class increased to $106 billion, registering an over 9 percent increase.

 

Meanwhile, the oldest crypto was up over 3 percent at the time of writing this copy, with prices hitting levels over $57K. In a week's time, the largest crypto by market cap has soared by close to 20 percent.

Bitcoin Moves Past $57K; Crypto Surges 20% In A Week

SEC has given approval to Volt Equity's crypto stock ETF which will be listed on New York Stock Exchange under the ticker BTCR.

"Bitcoin is easily the best performing asset of the top tokens over the past week, gaining almost 30%. With BTC crossing $55K, we could see the immediate support level at $53K and the next support level at $40K. Recently, JP Morgan said that institutional investors view Bitcoin as a better hedge against inflation than gold, suggesting that Bitcoin will hold or continue to increase in value in the future," said Siddharth Menon, COO of WazirX.

Meanwhile, in China there has been shared the negative list that enlists the sectors as well as industries that are off-limits to both Chinese and foreign investors.

 

GoodReturns.in

Read more about: bitcoin cryptocurrency
Story first published: Monday, October 11, 2021, 19:37 [IST]
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