Bitcoin reached a new all-time high on 20th October 2021 when it peaked at $66,930. Many cryptocurrency enthusiasts cheered on as it reached the milestone with the community rallying hard behind it since early October 2021.
Bitcoin has been on an impressive bullrun since August but only hit an all-time high after the Securities and Exchange Commission (SEC) of the U.S. government allowed ProShares Bitcoin Strategy ETF (BITO) to start trading on the stock market.
The ProShares Bitcoin Strategy is the first Bitcoin-linked Exchange-Traded Fund (ETF) listed on the U.S. Stock Exchange under the ticker name (BITO), giving it further legitimacy.
The current price of Bitcoin at the time of writing this post is $64,418, down almost $2500 from the all-time high. But experts are predicting that the price might bounce back and go higher as trading normalizes of the ETF.
The Bitcoin community already has been pushing the bullrun, but with the ETF now available to investors, it has given them an opportunity to trade on Bitcoin futures.
BITO has been performing spectacularly at launch, trading at around $42 on the stock market.
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