Forex. Cryptocurrency Forecast for today
A steady uptrend is visible. Meanwhile, the litecoin cryptocurrency was trading at $203, a change of more than 10% during the day. This was the sharpest daily growth of the digital asset since September 3. Ethereum was trading at $4072.59 with an increase of 7.96%.
The capitalization of the cryptocurrency market by the end of Wednesday amounted to 2.64 trillion US dollars against 2.56 on Tuesday. A positive news background contributes to an increase in long positions for digital gold.
Earlier, the media reported that the growth of digital gold is due to seasonal purchases of investment funds. This time, CoinShares confirmed the inflow of $80 million into funds based on digital assets from October 9 to 15.
The approval of ProShares' application to launch the Bitcoin Strategy ETF futures exchange-traded fund by the US Securities and Exchange Commission also added to the risk appetite. The message of the US authorities about the lack of intentions to ban cryptocurrencies strengthened the hopes of investors. We are witnessing a consistent trend in the United States to finally secure the lion's share of the digital asset market. This month, the SEC may approve two more bitcoin futures: the VanEck Bitcoin Strategy ETF and the Valkyrie Bitcoin Strategy ETF.