Over the past few days, the rate of the first cryptocurrency has come close to $ 63 thousand, updating the local maximum for six months. Experts have predicted whether the coin will be able to continue growing in the coming days
On the night of October 16, the bitcoin exchange rate for the first time in the last six months approached the $63 thousand mark. This happened after it became known about the approval of the first exchange-traded fund (ETF) in the United States based on bitcoin futures. As a result of the growth of the first cryptocurrency, the capitalization of the digital asset market has updated its historical maximum, exceeding $2.6 trillion. Experts of RBC-Crypto told what to expect from bitcoin in the coming days.
$60 thousand is not the limit
The current week ends well for the bulls, as the first cryptocurrency has updated the local maximum over the past six months, according to Andrey Podolyan, CEO of the Cryptorg platform. In his opinion, next week the maximum of the current week will be updated with a high degree of probability.
“There are quite big chances to set a historical maximum. Nevertheless, bitcoin has taught that at the moment when the crowd is very confident in something and is waiting for something, the price goes in the opposite direction,” the expert warned.
Overcoming the $60 thousand mark has become a very important psychological marker, after which we will see further upward movement, says Maria Stankevich, director of development of the EXMO crypto exchange. According to her, the digital asset market is in an uptrend and the bull run has not ended yet, but is just beginning.
Dynamics of altcoins
The price of bitcoin has come close to updating the historical maximum, which indicates the potential growth of alternative coins and the beginning of a full-fledged “altseason”, Stankevich explained. She believes that, despite the growing share of bitcoin in the market, a number of altcoins as a percentage of their current value will demonstrate much greater growth dynamics than the first cryptocurrency.
“This applies to both top altcoins and altcoins not from the top twenty,” the expert noted.
Some altcoins have already started to “shoot” and this trend will continue, Podolyan is sure. In his opinion, this is due to the fact that some bitcoin holders have already begun to shift profits from the growth of the coin into altcoins.
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