The Catalyst Required For Bitcoin To Finally Reach $100,000 Is Here

Bitcoin ETF Approval: A Potential Moonshot Catalyst Looming On The Horizon?

Multiple reports corroborate that the SEC could approve a Bitcoin Futures Exchange-Traded Fund next week and the regulator is reportedly no longer opposed to these products. These reports – of course among other factors, are currently breeding huge positive price changes for Bitcoin. They are solidifying the claims by the BTC price stock-to-flow model, whose […]

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Privacy-focused altcoins soar after Bitcoin’s ETF news sparks a market-wide rally

Altcoin projects focused on privacy caught a bid today as the bullish sentiment building over a possible Bitcoin ETF approval spreads across the market.

Traders and the market are showing extreme optimism on Oct. 15 after rumors and an assortment of documents suggest that the path toward a Bitcoin ETF approval has fewer obstacles lying ahead.

Following the positive news, the price of Bitcoin (BTC) rallied to nearly $63,000 for the first time since April and multiple altcoins saw their prices book triple-digit gains.

Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were NuCypher (NU), Keep Network (KEEP) and Orchid (OXT).

NuCypher partners with Keep Network

NuCyper is a protocol focused on creating decentralized encryption, access control and key management system services for public blockchains by offering end-to-end encrypted data sharing and decentralized storage solutions.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.283 in the early trading hours on Oct. 15, the price of new catapulted 535% to an intraday high at $1.80 as its 24-hour trading volume skyrocketed by 19,440% to $2.152 billion.

NU/USD 4-hour chart. Source: TradingView

The surge in price and trading volume for NU come as the project helped facilitate the launch of tBTC v2 on the Keep Network with is designed to “extend the censorship-resistant properties of Bitcoin onto every network that can interoperate with Ethereum (ETH).

Censorship-resistance comes to the Ethereum network

Keep Network is a protocol designed to offer privacy-focused infrastructure on public blockchains through the creation of an incentivized network for storing and encrypting private data.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for KEEP on Oct. 12, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. KEEP price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for KEEP began to pick up on Oct. 12 and climbed to a high of 75 and the price increased 585% over the next day.

The spike in momentum for KEEP came along with the spike in the price of NU as the two projects collaborated to release tBTC v2 on the Keep Network.

Related: BREAKING: Nasdaq listing hints that the SEC may soon approve ETF application from Valkyrie

Blockchain-based VPN service boosts Orchid price

Orchid is a cryptocurrency-powered virtual private network (VPN) that describes itself as “the world’s first incentivized, peer-to-peer privacy network.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for OXT on Oct. 12, prior to the recent price rise.

VORTECS™ Score (green) vs. OXT price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for OXT climbed into the green zone on Oct. 12 and reached a high of 75 on Oct. 14, around 15 hours before its price spiked 82% over the next day.

A scroll through the project’s Twitter feed points to an increased focus on privacy concerns as the impetus behind Friday’s price surge, which lines up with the main goals of both Nu and KEEP suggesting that the sector of privacy-related projects could be starting to attract more attention.

The overall cryptocurrency market cap now stands at $2.482 trillion and Bitcoin’s dominance rate is 46.6%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Bitcoin-related altcoins surge as BTC ETF rumors spread across the sector

Rumors of an imminent Bitcoin ETF approval are boosting sentiment and prices across the market, but caution is warranted, as it could turn into a buy-the-rumor, sell-the-news event.

On Oct. 14, bulls flexed their muscles and showed their intent to push the price of Bitcoin (BTC) closer to its $65,900 all-time high. One reason for the move is the steady chatter about the possibility of a Bitcoin exchange-traded fund (ETF) being approved by the end of October. 

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $54,103 on Oct. 13, the price of Bitcoin rallied 8.2% to an intraday high of $58,532 on Oct. 14 as the ETF discussion made fresh rounds on Crypto Twitter.

BTC/USDT 1-day chart. Source: TradingView

The spike above $58,500 is also significant because it marks a 100% increase in the price of BTC since bottoming at $29,193 on July 20, signaling a strong recovery and increasing demand.

Bitcoin’s price performance is also a signal that market participants are back in accumulation mode, a fact that is backed by data from Glassnode showing that the amount of Bitcoin held in wallets of all sizes has been on the rise since the price briefly dipped below $29,000 in mid-June.

Bitcoin hodl waves. Source: Glassnode

Badger DAO brings Bitcoin to DeFi

The rising price and growing bullish sentiment surrounding Bitcoin have also helped bring extra attention to Bitcoin-related projects that aim to facilitate its integration into the decentralized finance (DeFi) ecosystem and add smart contract capabilities to the Bitcoin ecosystem.

One beneficiary is Badger DAO, a decentralized autonomous organization focused on building products and infrastructure around Bitcoin’s utility in DeFi.

Data from and TradingView shows that since Oct. 1, the price of its BADGER token surged 187% from a low of $15.69 to a daily high of $45.09 on Oct. 14 as its 24-hour trading volume increased by 147% to $162 million.

BADGER/USDT 4-hour chart. Source: TradingView

The surge in the price of BADGER coincides with the token listing on crypto exchange Coinbase Pro.

Related: CME Bitcoin futures open interest hits 8-month high, greater than when BTC price was at $65K

Stacks brings smart contracts to Bitcoin

Another Bitcoin-focused project that has seen a bump in its token price is Stacks, a layer-one blockchain solution aiming to bring smart contracts and decentralized applications to the Bitcoin network.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for Stacks’ STX coin on Oct. 11, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. STX price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for STX began to pick up on Oct. 11 and reached a high of 82 around five hours before the price increased 33% over the next two days.

Overall, the ongoing discussions about a Bitcoin ETF continue to help drive speculation and price action across the crypto market, especially for tokens associated with the top cryptocurrency. But a word of caution is warranted, as there is still the possibility that this could turn into a buy-the-rumor, sell-the-news type of event.

It’s also worth noting that the possibility of a Bitcoin ETF has been discussed as far back as 2013, and it was one of the driving forces behind the 2017–2018 bull cycle, so it would be wise to wait for an official announcement from a regulatory body before assuming that the arrival of a BTC ETF is guaranteed.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision.

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Can Solana Bulls Send Prices To A New All-Time High This Month? Here Are The Chances

Institutional Investors Now Moving To Solana As Bitcoin And Ether Lose Steam

Solana (SOL) is among the few altcoins that market observers are extremely bullish on. The outstanding performance of the asset this year has added to its credibility, such that SOL has easily become one of the most talked-about altcoins these past few months. October might see SOL break $250 for the first time A quick […]

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