Bitcoin (BTC) has shown that it can handle changes in the market by going up a lot in value over the past week.
Bitcoin's value has grown by 10.38% every 24 hours, and it has grown by an amazing 20.42% in the last seven days. This rise, which has brought the price of the top cryptocurrency to $33,916 at press time, shows how different market forces and possible events can change Bitcoin's market trends.
Between October 21 and 23, Bitcoin's value stayed around $31,000, showing a mostly stable trend. On Oct. 23, however, there was a big move in the bullish direction, as Bitcoin's price shot up sharply from around $31,000 to just under $35,000. Along with this rise, there was a big increase in trade volume, which shows that there was strong buying pressure.
After this big jump, Bitcoin's price went down a little this morning, Oct. 24, to around $33,987, based on the most recent recorded spike. This change could show a normalized market reaction after a big peak, which shows that crypto markets are always changing.
At the same time, new stories point to possible changes in the market that could affect the performance of the digital asset. Eric Balchunas, a Bloomberg expert, said that global asset manager BlackRock plans to put money into its iShares spot Bitcoin Exchange-Traded Fund (ETF). The company hasn't announced its purchase or given any specifics about its plans yet, but this could make the market even more tense.
BlackRock's possible role in Bitcoin ETF seeding could add more depth to the story of Bitcoin's market. It shows that big investors are becoming more interested in crypto and are planning to get involved. Also, the amount of money that came into currently open digital asset funds rose 340% from the previous week.
However, it's crucial to realize that these changes only have an impact on the market as a whole; numerous other factors still have an impact on Bitcoin's price.
Our Reputation is Your Guarantee!
Other websites with similar names may try to confuse you to think we are the same. Shenzhen Apexto Electronic Co., Ltd has been in the Blockchain mining business for more than seven years. For the last 12 years, Apexto has been a Gold Supplier. We have all kinds of ASIC miners, including Bitmain Antminer, IceRiver Miner, WhatsMiner, iBeLink, Goldshell, and others. We also have launched a series of products of oil cooling system and water cooling system.
Contact details
info@apexto.com.cn
Company website
Post time: Oct-24-2023
