October Is a Seasonal Strength Month in Crypto Markets, Top Companies and ETFs
$Bitcoin(BTC.USD.CC)$ is pulling ahead of $.SPX(.SPX)$ and $Gold - main 2412(GCmain)$ in October, buoyed by growing indications that the US regulatory outlook for the cryptocurrency sector will improve after the upcoming presidential election.
In detail:
Prediction markets have flipped in the past few days, assigning Trump higher odds of victory than Harris. Trump has vowed to make the US the “crypto capital of the planet” — an about-face given that the former president previously dubbed the sector a “scam.”
The digital-asset industry has become an influential player in the presidential election through big donations to political action committees. Crypto businesses are seeking friendlier regulations, pushing back against a crackdown by the Securities & Exchange Commission under Chair Gary Gensler.
Trump is viewed as the more avowedly pro-crypto of the two candidates. Democratic nominee Kamala Harris on Monday also pledged to support a regulatory framework for crypto.
You may have noticed the comanpanies that own bitcoins like $MicroStrategy(MSTR)$ , $Coinbase Global, Inc.(COIN)$,and $Marathon Digital Holdings Inc(MARA)$ have shown a surge in recent.
$Bitcoin(BTC.USD.CC)$ on average delivered a 20% climb during October in the past decade, making the month the strongest of the year seasonally for the original cryptocurrency, data compiled by Bloomberg show.
“Historical data suggests that October’s seasonal strength in crypto markets is typically weighted toward the latter half of the month,” Sean Farrell, head of digital-asset strategy at Fundstrat Global Advisors LLC, wrote in a note.
What’s more, the US Bitcoin spot ETF had a net inflow of US$556 million yesterday, a high point in several months, according to HODL15Capital monitoring.
You are welcomed to take a look to the article generated by @ETF Tracker on Jan 11th 2024.
🎁Spot BTC ETFs To Pick? Choose Companies or Consider Fees?
Some noteble ETFs are worth looking at: $Bitwise Bitcoin ETF(BITB)$ $ARK 21Shares Bitcoin ETF(ARKB)$ $WisdomTree Bitcoin Fund(BTCW)$ $Invesco Galaxy Bitcoin ETF(BTCO)$ , $Fidelity Wise Origin Bitcoin Fund(FBTC)$ , $Valkyrie Bitcoin Fund(BRRR)$ , $iShares Bitcoin Trust(IBIT)$ , $VanEck Bitcoin Trust ETF(HODL)$ $Franklin Bitcoin ETF(EZBC)$ $Hashdex Bitcoin ETF(DEFI)$ , $Grayscale Bitcoin Trust(GBTC)$.
Data by Jan 11th 2024
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Thank you for sharing. I saw @ElliottForecast pointed that we do not recommend selling of $Bitcoin(BTC.USD.CC)$