Here you will find our daily update, which will provide you with all the main information and events on the crypto markets for the previous day.
Crypto market update
Bitcoin managed to break the previous all-time high after six months and set a new ATH at $67,000 yesterday. While Bitcoin has lost some value since then, altcoins have started to chart impressive gains. Ethereum is among the most impressive altcoin gainers with 8% increase and finally breaking above $4,000. The crypto market cap as a result has increased to $2.650 trillion as of now, up by $400 billion in a week and reaching a new ATH as well.
Bitcoin (BTC) is now trading at 66,220 USD (all data from Coingecko.com)
Ethereum (ETH) is now for 4,225 USD
PlatonCoin (PLTC) is now for 0,543 USD
Total marketcap is currently at 2.780 trillion USD
Daily news update
PayPal co-founder on BTC: As Bitcoin marked a new all-time high above $67,000, PayPal co-founder and billionaire venture capitalist Peter Thiel said he should have bought more Bitcoin on BBC. “You’re supposed to just buy Bitcoin,” Thiel said, adding: “I feel like I’ve been underinvested in it.”
Tesla and Bitcoin: Electric carmaker Tesla on Wednesday reported that its third-quarter revenue surged 57% to US$13.76 billion from US$8.77 billion last year, and a net income of US$1.62 billion for the quarter. The company’s digital assets were hit by a Bitcoin-related impairment of US$51 million, down to US$1.26 billion in digital assets from US$1.31 billion in the previous quarter.
JPMorgan about Bitcoin and gold: JPMorgan believes that as gold failed to respond to concerns over rising cost pressures in the last couple of weeks, Bitcoin’s renewed role as a better hedge against inflation in the eyes of investors is the main reason for the current bull run. The team highlighted that the shift away from gold ETFs into Bitcoin funds has bee gathering speed since September and “supports a bullish outlook for Bitcoin into year-end.”
Binance and ATH: Binance’s daily volume hit an eye-popping $100 billion on Oct. 20, according to a tweet by CEO Changpeng Zhao. The leading crypto exchange recorded this crucial milestone on the day Bitcoin, the largest cryptocurrency, reached a new all-time high of $67,276.
Mt. Gox and Bitcoin: The creditors who voted on the rehabilitation plan for the Mt. Gox were unanimously in favor of the proposal. The victims will soon receive information on how to receive their bitcoins, which occurs as the asset marks a new all-time high. That could release as much as 150,000 bitcoins. The Mt. Gox hack saw 850,000 BTC stolen, of which only 200,000 have been recovered.