Bitcoin Saw 27% October Surge

London: 01 November 2023 (TraderMade): Currency prices zoom higher, ending the October boredom. BTC Bitcoin is the biggest of all and is posting the most substantial monthly rally since January as investors were optimistic about Bitcoin ETF approval in the US.

BTC also gained more than 27%, springing to a 17-month high of $35000 after hovering near $27000 during the October 1st half. Moreover, it has resided recently just above $34000 ahead of the Federal Reserve interest rate decision on Wednesday. The market participants are mainly expecting policymakers to leave the rates unchanged.

The rally also spread across the broader Crypto market, a bullish sign in tracking broad baskets of tokens that advanced 22% in October. The market capitalization of all cryptocurrencies jumped nearly 19%, which is $1.255 trillion, the most significant increase in Crypto wealth since the 33% jump in January.

EPF may become a big deal for Bitcoin as they are far more accessible for an average investor to buy than the cryptocurrency itself.

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