To the delight of market participants, the intense accumulation has begun to pay off. But this might not be the end, as Bitcoin could reach $40,000 in Q4.
began October in scintillating fashion, as the king coin broke past $28,0000. Its price increase also triggered a hike in the values of other cryptocurrencies, leading the broader market cap to reach $1.12 trillion.was not without cause, and Santiment did well to highlight the underlying influences. According to the on-chain analytic platform, addresses holding 10 to 10,000 BTC accumulated a combined $1.17 billion worth of the coin in September.
Bitcoin’s Market Value to Realized Value ratio also increased. The MVRV ratio helps to evaluate the tops and bottoms of the Bitcoin market. It also gives an idea if a cryptocurrency is at a fair value, undervalued, or if it’s overpriced.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin jumps above $28k for the first time since August 2023The latest rally pulled Bitcoin out of the narrow trading range it had been in since the year's largest market crash in mid-August.
Read more »
Oil prices on the rise, Bitcoin passes $28K: What to watchOil prices continue to rise as global demand increases while production from OPEC+ decreases, with many bets placed that oil will reach $100 per barrel. In addition, bitcoin (BTC-USD) reached just over $28k, with some experts wondering if it's headed towards a rally. Yahoo Finance Markets Reporter Ines Ferre joins the Live show to break down China's oil demands and Congress' letter to the SEC to approve a spot bitcoin ETF. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Read more »
Rep. Bowman Flabbergasted as to Why Him Pulling a Fire Alarm is a Big Deal.'I was literally just in a rush to go vote, man!'
Read more »
Why does a group of B.C. killer whales harass and kill porpoises without eating them?A group of orcas that inhabit Canadian waters are known to harass and kill porpoises without eating them. A new study tries to explain why.
Read more »