The same day that a Bitcoin futures ETF gets publicly listed on the NYSE in the U.S., bitcoin hits a new all-time high against the euro.
At the time of writing, Bitcoin has hit a new all-time high (ATH) against the Euro ($EUR) at €54,603.15. At the same time, BTC only needs a 2% move up to break a new ATH against the U.S. dollar.
Bitcoin typically tends to perform very well in Q4, and so far this year it has been sticking to that trend. On October 1, the price of BTC was around €41,000. Since then, it has done nothing but rocket upwards with more highs expected to be seen in what many Bitcoiners are calling “Uptober.”
Bitcoin has been hitting new highs not only against the Euro, but against other fiat currencies such as the Australian dollar, Japanese yen, South Korean won, and Turkish lira. The U.S. dollar is expected to follow suit very shortly in joining the club of making new all time highs against Bitcoin soon.
The energy around Bitcoin has been electric so far this quarter especially with the $BITO Bitcoin Futures ETF being live traded on the New York Stock Exchange today, Bitcoin nearing an all time high in USD, and many other exciting things.
With all the recent events happening in Bitcoin lately — El Salvador adopting bitcoin as legal tender, ETF approvals, BTC balances on exchanges at lows not seen since 2018, and institutional and retail investors buying as much bitcoin as they can — it begs the question of how high we’ll go this bull run.
It can not be underestimated where we are in Bitcoin’s history. Bitcoin has not died like many who saw it crash in 2018 thought it would. Instead, it has bounced back and presented itself front and center on the world stage as a world class currency. Those who use the euro as their vehicle for saving wealth may want to reconsider and think about adopting bitcoin instead, because as it stands, the euro is rapidly losing value against the new measuring stick of value — bitcoin.