• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Disney

Price of Bitcoin surpasses $58,000 per coin

by News Desk
October 14, 2021
in World
Reading Time: 1 min read
Bitcoin price surpasses $58,000 per coin
Share on FacebookShare on Twitter

The world’s top cryptocurrency continues to rise, as bitcoin price surpasses $58,000 per coin, marking a nearly 26% surge for the month of september.

Experts warn, however, that the sharp increase may lead to a sell-off.

Price of Bitcoin was trading around $58,000 as of 6:00 GMT on Thursday, up about 5% from the previous close. It dipped below $55,000 briefly on Wednesday, after trading in a tight range over the past few days.

Some analysts claim the current rally is driven by increased speculation around the possibility of a bitcoin exchange-traded fund (ETF), which could spring up if greenlighted by the US Securities and Exchange Commission (SEC) as early as this week. However, many are skeptical whether the approval will have a beneficial effect on bitcoin’s price.

Crypto analysts say the extreme buying in the market could mean the rally may soon run out of steam. According to the Fear & Greed Index, a tool used by investors to gauge whether the market is fairly priced, bitcoin entered ‘extreme greed’ territory last week, and is at the highest level since early September, which preceded a sharp sell-off and may signify another one approaching.

The cryptocurrency is still about 8% below its all-time high of around $65,000 in April, but has nearly doubled in price since the July low of under $30,000.

Tags: BitCoinCryptocurrency
News Desk

News Desk

Related Posts

Pakistan Removes Mandatory COVID Vaccination Certificate for Hajj Pilgrims

Pakistan Removes Mandatory COVID Vaccination Certificate for Hajj Pilgrims

The Ministry of Religious Affairs and Interfaith Harmony, through its official Twitter handle, has announced the removal of the mandatory...

Turkey Introduces E-Visa Service to Welcome Visitors from Pakistan

Turkey Introduces E-Visa Service to Welcome Visitors from Pakistan

Turkey Simplifies Visa Process for Pakistani Visitors with New E-Visa Service. Turkey has recently introduced a convenient e-Visa service, eliminating...

Netanyahu will be tried as war criminal, says Erdogan

Netanyahu will be tried as war criminal, says Erdogan

On Monday, Turkish President Recep Tayyip Erdogan declared that Prime Minister Benjamin Netanyahu would face trial as a war criminal...

More than 700 Palestinians killed in last 24 hours: Gaza's govt media office

More than 700 Palestinians killed in last 24 hours: Gaza’s govt media office

The Director General of the Government Media Office in Gaza informed Al Jazeera that, within the past 24 hours, the...

India's Plots to Target Sikh Leaders in the US and Canada revealed

India’s Plots to Target Sikh Leaders in the US and Canada revealed

In May, an alleged plot to assassinate a Sikh separatist on U.S. soil unfolded with a text message exchange between...

Israel resumes Gaza attacks as truce expires, heavy fighting reported

Israel resumes Gaza attacks as truce expires, heavy fighting reported

On Friday, heavy fighting was witnessed in Gaza as Israel's military resumed combat operations against Hamas, alleging a violation of...

Next Post
PM Foreign Gifts: Details seeked by IHC till Nov 11

PM on Pak-Iran coordination on Afghan Situation

Please login to join discussion

Recent Posts

  • NEPRA Approves a Rs3.5 Per Unit Increase in Power Tariffs
  • Early Release of GTA 6 Trailer after Online Leak; 2025 Launch Officially Confirmed
  • Israel says fighting in ‘second stage’ of Gaza war will be difficult
  • Punjab Increases Driving License Fee
  • Elections 2024: Finance Ministry releases Rs17.4 billion to ECP

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk