October once again lived up to its “Uptober” moniker among cryptocurrency enthusiasts, with the strong performance of Bitcoin, Ethereum, and other crypto assets.
Nasdaq Crypto Index Europe (NCIE) is up 21.6% this month, pushing its year-to-date return to 84.3%, according to cryptocurrency asset management company Hashdex. In comparison, Nasdaq 100 and Euro Stoxx 50 were able to return 31.5% and 7.4%, respectively, this year.
Hashdex Analysts: “There is Evidence of a Bullish Start in the Crypto Market”
This rise in cryptocurrency prices is attributed to several factors, including speculation regarding the approval of a spot Bitcoin ETF in the US. But the question on investors' minds is whether this is the beginning of the next bull cycle.
Hashdex analysts stated in their report that the evidence is in this direction. Anticipation for a spot Bitcoin ETF in the US is high, with many believing it is a matter of “when” rather than “if”, analysts say.
Although analysts think that very specific price predictions in the cryptocurrency market are often in vain, they announced that favorable conditions have begun to form for a new bull rally in the cryptocurrency market.
Hashdex is known as the company that has been approached by the SEC as a Bitcoin ETF and has submitted the ETF application that best complies with the SEC's rules. As Bitcoinsistemi.com, we told you that Hashdex had a private meeting with the SEC.
*This is not investment advice.
