The Bitcoin price surge on October 20 brightened everyone’s day because it broke through the previous all-time high (ATH) and reached $67,200! It’s at times like this that it’s a wonderful feeling to be a part of the cryptocurrency sector.
The main driver of this price rise was the SEC’s approval of another Bitcoin ETF, which will began trading on Friday October 22. This ETF’s ticker symbol was originally BTFD, which stands for “Buy The Fucking Dip”…As CoinDesk confirmed, “It will trade on Nasdaq under the ticker BTF on Nasdaq, despite short-lived plans to adopt the more meme-centric ticker BTFD.”
Musk also tweeted an image to celebrate the moment, which many people interpreted to mean “It’s cool to lie down and make money!”
In addition, the voice of the opposition in El Salvador has vanished because of Bitcoin’s rapid rise. According to media reports, President Booker’s main opposition organization in El Salvador was disbanded today. After Booker declared Bitcoin to be the national legal tender, protesters destroyed the Bitcoin ATM machines. Douglas Rodriguez the country’s central bank president is quoted in Bloomberg as saying he expects Bitcoin’s notorious price volatility to help the economy expand more than the 9% the bank forecasts it will this year. Adoption of the cryptocurrency is a way for Salvadorans to access more payment methods in a nation where more than three-quarters of citizens are unbanked. Rodriquez called it a means of inclusion for those whom the financial industry deems too low-income or high-risk.
Bitcoin predicted to reach over $1000,000
In fact, Bitcoin’s current price trend is still in line with the stock to flow model (S2F), which has become popular after ‘PlanB’ shared it with the crypto community.
PlanB has also predicted Bitcoin’s future price exceeds $100,000 by the end of 2021. “Due to the scarcity of Bitcoin, the S2F model depicts that Bitcoin has value. Prices will increase if the demand rises, but the supply will drop. The S2F model predicts that Bitcoin Will likely be worth $288,000 each coin by 2024. This prediction comes after the Bitcoin halvings in 2012 and 2016,” explained a recent article in Bitcoinik.
Take part in our 10,000 USDT futures event to capitalize on the bull market!
Congratulations if you have been following the daily analysis of BigONE futures, you may have made a lot of money by relying on the bull market. If you haven’t already, I recommend that you join BigONE’s official community and get started right away. Don’t let the bull market pass you by!
You can also invest in BigONE’s futures. We can confirm that BigONE will launch a special promotion next week, which is open to all who qualify:
1. During the event, the number of futures transactions (opening a position is a transaction, and closing a position is also a transaction) ≥ four times, and each futures transaction volume (principal x multiple) ≥ 1000 USDT, can meet the requirements of the event.
2. Count the number of registered users and the transaction volume during the event period, then divide the 100,000 USDT rewards proportionally. Individuals who meet the requirements can earn a minimum of 5 USDT, with a maximum award of 10,000 USDT.
This event starts on October 27 at 00:00 and finishes three days later on October 30 at 00:00 (UTC + 8).
To take part in this event, users must follow these instructions. First, you must submit the registration form to participate in the event; second, the rules for opening and closing positions: opening and closing counts as one transaction and closing as one. Trading requires the number of transactions ≥ four times to meet the activity requirements.
Hurry up and act, to take part in another fantastic opportunity!