Forex. Cryptocurrency Forecast for today
Speculative sales on small volumes will not change the current upward trend. Digital gold is restrained by the level of 64300 dollars.
The capitalization of the cryptocurrency market by the end of Thursday amounted to 2.54 trillion US dollars against 2.64 on Wednesday. This indicates a reduction in long positions, and the growth of quotations in the coming days is unlikely. At the moment, there is no important news that could greatly affect the trading of digital assets. It is possible that the market is dominated by more speculative trends than fundamental ones.
The Valkyrie Bitcoin Strategy ETF, another exchange-traded fund investing in bitcoin, which has already received approval from the U.S. Securities and Exchange Commission (SEC), is expected to launch soon. According to media reports, like the ProShares Bitcoin Strategy ETF, which went public earlier this week, this fund will also invest in bitcoin futures.
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.