Investors appear to be getting their trust back following China’s ban on trading and mining crypto only created a short-lived drop in prices. Bitcoin is rebounding brilliantly well as investors appear to be looking beyond the China Bombshell of September 24. 

Previous weekend there was a gradual movement when the price of Bitcoin reached approximately the $55,000 level, and has since appreciated again to $57,573 at the time of writing. 

Going by UK-based digital asset broker, GlobalBlock, previous week’s price broke out of the latest downtrend and everything appears to be indicating towards attaining an all time high. “With technical indicators appearing bullish, the next critical resistance is at $60,000 and if it breaks through we could have a thrilling run until Christmas”, they stated. Bitcoin attained an all-time high price of $64, 863 on April 14, 2021. 

Ethereum’s technical indicators were displaying slightly more bearish indicators in contrast to Bitcoin, but it is typical that Bitcoin has a bullish shift first prior to others being pulled up after. Ethereum is presently trading at $3.785,95. 

Globalblock also specified that Bitcoin ETFs are still a major point of discussion as Blockfi filed to offer a Bitcoin futures ETF. The SEC has prior demonstrated that they are wishing for a futures ETF instead of a spot ETF so Blockfi’s chances of approval are better off. But, they are at the back of the queue with Proshares being the first to file for the provision of an ETF. Bloomberg has stressed that they hold the belief that it is probable that one or two ETFs are accepted and has provided the Proshares ETF 2:1 odd on approval by the conclusion of the month.