Bitcoin Skyrockets To $34K On BlackRock News, Ethereum, Dogecoin Follow: Analyst Says $42K Easy Target For King Crypto
Portfolio Pulse from Mehab Qureshi
Bitcoin's price surged to $34,000, followed by Ethereum and Dogecoin, due to the progress made by BlackRock in preparing its proposed Bitcoin ETF, iShares Bitcoin Trust (IBTC). The ETF is now listed on the Depository Trust and Clearing Corporation (DTCC) website, indicating a level of confidence in the SEC granting approval. The recent rallies are believed to be a result of the growing excitement surrounding the potential approval of Bitcoin spot ETF applications by the SEC. The global crypto market cap stands at $1.24 trillion, reflecting a 7.22% increase in the past 24 hours.
October 24, 2023 | 2:15 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bitcoin's price surged to $34,000 due to the progress made by BlackRock in preparing its proposed Bitcoin ETF, iShares Bitcoin Trust (IBTC).
The news of BlackRock's progress with its proposed Bitcoin ETF has led to a surge in Bitcoin's price. This indicates a high level of confidence in the SEC granting approval for the ETF, which would likely lead to increased demand for Bitcoin.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Dogecoin's price also increased, following the surge in Bitcoin's price due to the progress made by BlackRock in preparing its proposed Bitcoin ETF.
The surge in Bitcoin's price due to the progress made by BlackRock in preparing its proposed Bitcoin ETF has also led to an increase in Dogecoin's price. This is likely due to the overall positive sentiment in the cryptocurrency market.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Ethereum's price also increased, following the surge in Bitcoin's price due to the progress made by BlackRock in preparing its proposed Bitcoin ETF.
The surge in Bitcoin's price due to the progress made by BlackRock in preparing its proposed Bitcoin ETF has also led to an increase in Ethereum's price. This is likely due to the overall positive sentiment in the cryptocurrency market.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80