Crypto Rollercoaster: Bitcoin Approaches a New Peak

Crypto rollercoaster: Bitcoin approaches a new peak. Bitcoin is on the verge of hitting an all-time high. Thanks to the debut of the first U.S. bitcoin futures exchange-traded fund. Which investors believe that cryptocurrency will become more accessible? To a wider range of investors.

However, the introduction of cryptocurrency exchange-traded funds (ETFs) in the world’s largest economy. Has not been the sole driver of this chapter of bitcoin’s rollercoaster ride until 2021. Here are some graphs that depict the dynamics of the company’s push towards a new record high.


Crypto rollercoaster bitcoin is notorious for its extreme price swings. With its 13-year history punctuated by dizzying ascents and equally dizzying descents.

Similarly, it has performed admirably this autumn.  Since the middle of September, the world’s most valuable crypto rollercoaster occur. By more than 60%, with gains of more than 46% in just one month in October.

This year, however, has witnessed some severe drops in the stock market. After reaching its current high of $64,895 in mid-April. Bitcoin fell by more than half in just 35 days, with a crackdown on cryptocurrencies by the Chinese government. As it is being one of the contributing factors.

Analysts believe that one of the key reasons for the current boom in bitcoin has been wagers. That U.S. regulators will allow the first bitcoin futures exchange-traded fund (ETF) to be launched. Paving the way for increased investment by both retail and institutional investors.

The City Index’s Tony Sycamore stated that these types of products “will open up exposure to bitcoin. To a large segment of investors who already have a brokerage account and are comfortable. Buying stocks and ETFs, but do not want to go through the hassle. And learning curve of establishing a second account with a cryptocurrency provider.”


However, even prior to the launch of the new ETF. inflows into existing bitcoin exchange-traded funds and products were increasing at a rapid pace.

CryptoCompare, a London-based company that tracks bitcoin funds, reports that average weekly flows. To bitcoin funds totaled $121.1 million in October, an increase from $31.2 million a month earlier. They had been in negative territory for the previous three months. As a result of the withdrawals that followed bitcoin’s precipitous declines in May and June.

“During the summer, bitcoin experienced a significant decline in value. The price movement has been characterized by a recovery.F rom a low “Sui Chung, CEO of CF Benchmarks, a crypto index provider, shared his thoughts.

“Bitcoin was just perceived as being inexpensive – anything below $30,000. Attracted a large number of investors, particularly institutional ones.”


Investors are increasingly expecting that major central banks would raise interest rates. As a result of rising inflation in several global economies.  Some market participants believe that bitcoin’s alleged inflation-proof characteristics. Have also contributed to its recent gains in value against this background.

Bitcoin has risen about 85% in value since the beginning of July. Some inflation hedge assets have performed better than others. With inflation-linked bonds – the U.S. TIPS Index – rising more than 140 percent. Since the beginning of the recession. Over the same time span, the price of gold has remained unchanged.

 In the words of Joel Kruger. CEO of cryptocurrency exchange LMAX Digital, “rising interest rates might put pressure on global equity markets.” In terms of the longer-term store of value proposition as well as the hedge against inflation proposition. “Bitcoin is going to be quite highly supported.”

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