Today brought good news as the king of cryptocurrencies, Bitcoin (BTC) showed a fierce movement, approaching the $ 60,000 level and it is unlikely to return to touch an all -time record high (ATH), $ 64,863 in April.
At the time of writing, BTC is trading at $ 59,669 with a jump of over 100% since its worst performance on July 20, at which time the asset was worth $ 29,193.
Two assets related to the Bitcoin project also received a positive impact:
Badger DAO (BADGER)
Stacks (STX)
The question arises, what invites a solid movement of Bitcoin?
At midnight last night local time, the Securities and Exchange Commission (SEC) posted a tweet: "Before investing in funds that hold Bitcoin futures contracts, make sure you have identified the risks and benefits."
Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits.
Check out our Investor Bulletin to learn more: https://t.co/AZbrkpfn8F
- SEC Investor Ed (@SEC_Investor_Ed) October 14, 2021
The official tweet also featured an Investor Bulletin link that had a similar message, reported by the SEC’s Office of Investor Education and Advocacy and the Commodity Futures Trading Commission’s (CFTC) Office of Customer Education and Outreach in June.
The average investor from the crypto community speculates the SEC will approve Bitcoin ETFs in the near future, being the reason for Bitcoin’s uptrend today.
Logically, the SEC will not upload previous bulletins along with the latest tweets if for no other reason than good news about Bitcoin ETFs.
Not sure how valid this speculation is, but in a CNBC report on Oct. 12 revealed market analysts ’forecasts claiming Bitcoin ETF approval may be delayed until 2022.
It is estimated that about 20-40 physical futures and ETF applications are awaiting SEC approval.
Earlier this year, Canada became the first country to approve the first ETF, before approving more ETFs later that day, followed by Brazil in August.
At the time of writing, BTC is trading at $ 59,416 with a nearly 3% jump in 24 hours.
This afternoon, the asset managed to touch the $ 60,019 level. BTC needs a jump of over 8% to return to rocket to an all -time high (ATH), $ 64,863 recorded on April 14th.
