How Can You Capitalize On Crypto’s Recording Breaking High

Bitcoin prices recorded an unprecedented high in the last six months after the successful debut of the first bitcoin future exchange-traded fund. On 20th October, bitcoin prices surged over 4% to $66,140, outperforming the initial record high of $64,800 set in the second week of April. With this most recent surge, bitcoin prices have soared almost 20% over the last week. Amidst the latest debut of the exchange-traded fund, ProShares Bitcoin Strategy, whose trading volume was around $1 billion with a 4.7% increase its price on its day one of trading. The combined market worth of the world’s digital currencies hit $2.7 trillion on Wednesday—outperforming a past peak of $2.6 trillion in mid-May. ProShare was launched under the ticker BITO on the New York Stock Exchange, becoming the first bitcoin-linked exchange-traded fund in the US. 

The fund intends to make bitcoin investment open to Americans who have brokerage accounts but do not want to undergo the long and complex process of setting up a crypto account with a crypto platform or a crypto provider. It became the first exchange-traded fund approved by the  Securities and Exchange Commission (SEC). It can depict how ready major investors are to incorporate cryptocurrencies into their investment portfolio. Bitcoin’s market capitalization is about $1.3 trillion, which is three times ether’s market worth of $479 billion and a stunning 15 times the $84 billion market cap of Binance Coin, the world’s third-biggest digital currency. ProShares ETF will provide exposure to investors curious about crypto, giving them first-hand experience of the market. Although volatility is expected to continue, the latest surge in prices is expected to bring forward other crypto investment vehicles to the market that could drive sustained momentum in the prices of bitcoin and other cryptocurrencies.

Supply Shock

According to a new report by crypto research firm Kraken Intelligence, bitcoin investors are deliberately creating a “supply shock” by accumulating cryptocurrencies hoping that their prices might go higher again.  It ascribed bitcoin’s new record-breaking high to this situation, i.e., most of the long-term holders are accumulating bitcoin instead of making profits, leading to a surge in bitcoin prices. Most of the bitcoins are usually controlled by these long-term holders, leading to the supply shock growing even stronger. 

Ready To Spend Your Bitcoin, Ethereum, Ripple, Litecoin, and Other Cryptocurrencies?
Within minutes you can register for a Unbanked account, add funds, pass KYC, get a virtual card and make purchases anywhere major credit cards are accepted. Register at no cost to you.
  Register Now

Kraken investigators have claimed that the latest value crashes were because of minor market pullbacks rather than a complete reversal of the bullish trend. Therefore, they anticipated that new high records could be set before the end of this year. This claim builds upon a “popular prediction model” that bitcoin can reach six-figured numbers at the end of 2021. Along with long-term holders, bitcoin miners are declining to sell their cryptocurrency. Even retail investors have proposed the next month as “No Sell November” and encouraged investors to “HODL” their cryptocurrencies. This plan is increasing the prices of cryptocurrencies much higher. Therefore, both large and small-scale players are investing and stockpiling bitcoin. 

What Should Investors Do?

In case you’re investing in cryptocurrency, anticipate that volatility will continue. That is the reason experts prescribe keeping your crypto investments less than 5% of your investment portfolio. 

Cryptocurrencies are unpredictable, similar to certain days when they can go up and down by 80%. In any case, if you trust the potential of bitcoin, you must not change your investment plans. Very much like you shouldn’t allow a price drop to influence your decision to purchase crypto, don’t allow an abrupt cost increase to alter your long-term investment strategy. Much more critically, don’t start buying more crypto on the grounds that the prices are suddenly rising. You must always ensure that your financial bases are covered — from your retirement records to emergency reserve funds — before putting any extra money into an unpredictable asset like Bitcoin. Bitcoin’s most recent giant leap likewise is nothing new. While it may indicate a more mainstream adoption of cryptocurrency, the volatility of bitcoin has not gone. 

Investors should not look into fluctuations; instead, they must continue holding their crypto assets. They must not jump into the hype. Even though crypto is going up or down, the best option is not to look into it. If you let your emotions get in the way, you could sell at the wrong time, or you may settle on some unreasonable price. Worrying about the fluctuations too much is not a sound way of moving forward in the crypto market.

The advantage of purchasing and holding digital assets is that you don’t need to feel driven to exchange when the price is very high or low since you’re working within a longer investing framework. In light of the unpredictability of cryptocurrency, the market rises and tumbles to new highs and lows. If you’ve done your homework and have a solid investment strategy, these price changes shouldn’t influence your investment plan or approach. The best advice is to carefully weigh up the advantages and disadvantages of purchasing bitcoin for the long-term and ensure you have a thoroughly examined crypto investment strategy right in the beginning.

Buy Bitcoin With Your Unbanked Bank Account
Buy Bitcoin and other cryptocurrencies with your crypto friendly bank account from Unbanked. Purchase Bitcoin and other crypto instantly and settle to your crypto wallet.
  Register Now

The Bottom Line 

The current surge in prices and the establishment of an SEC-backed exchange-traded fund is a move towards the greater legitimization of cryptocurrencies, especially bitcoin. The new ETF has opened doors for new investors who were skeptical about cryptocurrencies. According to the latest research, more than 50 million Americans plan to invest in cryptocurrencies next year, and the new ETF will give them more impetus. At Unbanked, we believe that mainstream adoption of cryptocurrencies can help solve the problems that have plagued the traditional banking system for years. Cryptocurrency is a vehicle that can disrupt the status quo and enable financial access and control. At Unbanked, we offer crypto bank accounts, get crypto debit cards, the removal of hidden fees when you buy, sell, and send crypto, as well as rewards when you spend your cryptocurrency. To know more about the crypto market, read our blog.

The Latest

A screen displaying the downward trend of a specific cryptocurrencyz

What Is Buying the Dip? Does It Work in Crypto?

If you’ve spent any time in the stock market realm, then you may have at least heard of the phrase “buying the dip” before, but you may not fully understand what it means. Below, our team of financial experts at Unbanked intends to explore the concept, how it works, and how you can go beyond… Read Article

Crypto scams are very common

What Are Cryptocurrency Scams? How to Avoid Them

Over the years, cryptocurrency has become a popular form of investment. Digital currency is unregulated, which is one of the attractive features of these types of investments. Unfortunately, that has left the door open for unscrupulous individuals to scam people out of money. They have been using sophisticated tactics to trick people out of their… Read Article

A man holding a phone and looking at price charts

APY: What It Is & How to Calculate It

Are you looking to invest in crypto banking or DeFi projects? Many companies advertise high APYs to entice others to invest in their company. But how do you know what a good APY should be, especially in the crypto world, where many projects offer obscene APY earnings to attract more investors? We’ll explain everything you need… Read Article

A Bitcoin mining rig

How Does Bitcoin Mining Work?

If you are thinking about trying out your hand in the ever-evolving cryptocurrency world, then don’t just settle for buying, trading, and selling your crypto like so many other people. Crypto mining, and specifically Bitcoin mining, is a fantastic way for you to get your hands on some quality virtual currency as long as you’re… Read Article


Crypto Rewards
on Spend

You also have access to:



Nah, I enjoy high fees...

Join 2,400+ other investors with over $2.7 million raised! 🔥
This is default text for notification bar