Crypto Global

Bitcoin Price New All Time High

Oct 19, 2021

As inflation continues to rage, crypto and NFTs are reaching new heights. Bitcoin could hit an all-time high again this week. At the time of writing, the Bitcoin price is $ 61,700. If you look at the all-time high in Bitcoin price, the current all-time high is $ 64,863.10 and that was on April 14th when you last saw that price. And it looks like we're seeing a new all-time high in Bitcoin this week. Crypto traders know that when bitcoin goes up, it usually means that the altcoins could soon catch up.

A major reason Bitcoin price could hit a new all-time high is the news on Friday that the first exchange-traded U.S. Bitcoin futures funds (ETF) could start trading soon. NYSE Arca has confirmed its approval of the listing of “Proshares Bitcoin Strategy ETF”, and Nasdaq has confirmed that shares of “Valkyrie’s Bitcoin ETF” have been certified for listing on its exchange.

There is a long history of trying to get a Bitcoin ETF. This has been happening regularly since 2013, when the very first application for a Bitcoin ETF was submitted by the Winklevoss twins to the US Securities and Exchange Commission. The reason the SEC hasn't approved it yet is because the SEC would fail to recognize a lot of manipulation and is unable to monitor the markets and ensure that manipulation is not taking place. Another reason is that price discovery takes place offshore or on non-US exchanges.

Coinbase NFTs

Coinbase made an important announcement about NFTs. Coinbase is launching its own platform for NFTs. Coinbase is one of the largest and most trusted crypto exchanges in the world and is available in many countries. In a blog post, Coinbase NFTs will be a marketplace for minting, buying and discovering NFTs. Coinbase plans to add social features as well, and is talking about making the buying process easier. Coinbase says the platform will support ERC721 and ERC1155 tokens, with multi-chain support planned soon after.

Coinbase has more than 56 million verified users and could bring NFTs to a much wider audience. OpenSea, currently by far the market-leading NFT platform, currently has around 500,000 active addresses. Coinbase NFT will be a game changer in the NFT space as the marketplace will also have a more user-friendly interface and provide users with a smooth experience. Coinbase's main goal is to make this platform a platform geared towards NFT creators. So far, using NFTs has not been that easy for creators.