3 Stocks to Buy as Bitcoin Hits 18-Month High on Fresh Optimism.



The Bitcoin (BTC) rally, which had stalled two months back after making a solid turnaround earlier this year, once again rebounded on Oct 24. The cryptocurrency jumped nearly 6% to $34,872 to hit its highest level in almost one-and-a-half years on growing speculation that Blackrock’s spot bitcoin exchange-traded fund (ETF) will soon be a reality.

Tuesday’s rally followed a 10% surge in Bitcoin on Oct 23, when it crossed the $35,000 mark. The enthusiasm surrounding Bitcoin sent other related stocks and major cryptocurrencies like Ethereum (ETH) on a rally. Ethereum prices jumped 4.5% on Oct 23 to $1,786.30, hitting its highest level since August.

Investors Optimist about Bitcoin ETF
The approval of a Bitcoin-backed exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) is expected to boost demand as it would enable more conservative investors to own Bitcoin and other cryptocurrencies via traditional stock marketers. The approval is also likely to attract new investments into the crypto sector, which could further boost demand.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)