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What’s Going On With Bitcoin, Ethereum, Matic, Nucypher? Here Are the Q4 Price Predictions



Tomiwabold Olajide

It’s a new era of listings for cryptocurrencies as after years of trial and error by would-be fund sponsors, The Securities and Exchange Commission (SEC) finally greenlighted Bitcoin futures ETFs in a first for the industry on Friday. This may be quite significant as SEC has in the past, explicitly rejected Bitcoin ETF applications.

According to an Oct. 15 notice from the SEC, the agency has accepted the registration of securities from ProShares Trust’s Bitcoin (BTC) exchange-traded fund. In addition, ProShares filed a post-effective amendment prospectus, which states its ETF could launch as early as Oct. 18.

Same Oct. 15, the Nasdaq Stock Market certified the registration of Valkyrie’s Bitcoin Strategy ETF shares for listing. In another similar news, Bakkt Holdings, the digital assets management arm of Intercontinental Exchange (ICE) has announced that starting Oct. 18, Bakkt’s common stock and warrants will be listed on NYSE under the ticker symbols “BKKT” and “BKKT WS,” respectively.

Bitcoin price ticked highs of $62,910 on Oct. 15 based on the optimism around the Bitcoin futures ETF approval.

What’s Going On With Bitcoin, Ethereum, Matic, Stacks, Nucypher — Q4 Predictions?

Bitcoin is yet consolidating the news of SEC’s green light for the Bitcoin ETF futures as seen in the declines from the $62,910 Oct. 15 high to lows of $60,327 seen as of press time. Some analysts opine SEC’s approval could turn into a buy-the-rumor, sell-the-news event.

BTC/USD Daily Chart

Although cryptocurrency investing will now open up to the masses, most analysts are concerned about the market impact and overall effect on Bitcoin price action.

Alex Kruger, crypto analyst cum Economist notes ”Few understand this Bitcoin ETF if approved would have futures as underlying. Futures are usually in strong contango (i.e. futures > spot), so at rollover, the ETF would *sell low to buy high*, and suffer Contango Bleed. Assets with strong contango bleed trend lower”.

However, crypto trader Alessio Rastani believes Bitcoin will finalize its upward trajectory toward $100,000 in the next few months. Cryptoanalyst Michael Van de Poppe states ”#Bitcoin to $70-75K before we get a correction and retest of the ATH region, and then we’re going to blast ourselves into a massive run, including #Altcoins”.

The Securities and Exchange Commission (SEC) is set to begin deciding the fate of “physical” ETFs next month.

Ethereum (ETH)
Ethereum is beginning to gain on Bitcoin following a month of underperformance. At the time of press, the ETH/BTC pair was up 1.37% on the day.

FSInsight, a markets strategy and research stating that “it’s anticipated that September highs ($4030) should be exceeded, giving way to acceleration back to new all-time highs,” Other traders are confident in the altcoin breaking through $4,000 in the short-term.

According to twitter’s MK2 trading — ”Two scenarios here: 1-Come back and retest the inverted head and shoulders neckline. 2-Break the bull flag. In both cases, I believe we will ultimately reach $4000 again”.

ETH traded at $3,871, up 1.10% on the day as of press time.

MATIC spiked nearly 33% to highs of $1.63 on Oct. 15 after Upbit added MATIC pairs to its trading platform. Some analysts believe further upside remains in store, stating that Polygon (MATIC) has the potential to reach $3.50 by the end of this year as it charts a pattern that’s starting to resemble a bull flag.

The $1.70-$1.80 levels remain a critical level for bulls to beat.

Nucypher (NU)
NuCypher on its one-year anniversary on Friday rallied nearly 1134% to mark all-time highs of $2.92. The rise also coincided with its Upbit listing. Several traders are keenly keeping a watch on the NuCypher price after the astounding rally amid an ongoing merger with the keep Network into ”Threshold”.

Speaking on its progress so far amid new use cases by MasterFile and Creaton, it states ”NuCypher’s proxy re-encryption (PRE) service is leveling up. Recently, the demand for access-conditioned content in Web3 has exploded”

NU is marking the second day in green since the Oct. 15 rally and may see a retest of highs in Q4 if the bulls come to play.

Image Credit: Shutterstock

The post What’s Going On With Bitcoin, Ethereum, Matic, Nucypher? Here Are the Q4 Price Predictions appeared first on Latest Crypto News.

What’s Going On With Bitcoin, Ethereum, Matic, Nucypher? Here Are the Q4 Price Predictions was first posted on October 17, 2021 at 12:08 pm.
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