The leading cryptocurrency started the week below $63,000 but tested the $66,000 mark by Monday, October 14. The next day, digital gold approached $68,000, surpassing this level on October 16.<\/p>\n
At the time of writing, bitcoin is trading at $68,600.<\/p>\n Most digital assets in the top 10 by market capitalization ended the week in the green. Dogecoin gained the most (+25.9%).<\/p>\n The total cryptocurrency market capitalization stands at $2.47 trillion. Bitcoin’s dominance index is 58.7%.<\/p>\n Crypto investment firm Canary Capital has filed an S-1 application with the SEC<\/span> to register a spot Litecoin-ETF. The custodian and administrator of the product have not been specified.<\/p>\n \n\u201cLitecoin plays a leading role in the broader cryptocurrency ecosystem [\u2026] and is attractive to a wider range of institutional investors,\u201d the document states.<\/cite><\/p><\/blockquote>\n Bloomberg analyst James Seyffart noted the similarity between LTC and bitcoin in terms of oversight.<\/p>\n Ethereum co-founder Vitalik Buterin considers the lack of a unified ecosystem as the network’s main pressing issue. According to him, the current protocol-based space resembles 34 different blockchains.<\/p>\n As long-term development goals for Ethereum, he outlined:<\/p>\n Buterin also mentioned tasks for improving the EVM<\/span> and enhancing link security.<\/p>\n The Italian government plans to increase the capital gains tax on cryptocurrencies from 26% to 42%. This applies to profits exceeding \u20ac2000.<\/p>\n The rate hike is part of measures approved by the council of ministers to raise funds for supporting households, youth, and businesses.<\/p>\n The government first introduced the cryptocurrency profit tax in the 2023 budget.<\/p>\n The potential return of Donald Trump to the U.S. presidency and the need for insurance against economic instability create favorable prospects for bitcoin in 2025, according to JPMorgan.<\/p>\n Analysts believe that amid rising geopolitical tensions and upcoming U.S. elections, speculative institutional investors may consider gold and the leading cryptocurrency, but not Ethereum.<\/p>\n A potential Trump victory, besides supporting bitcoin from a regulatory standpoint, is likely to increase turbulence due to plans for tariff hikes and increased government spending (\u201cdebt devaluation\u201d), JPMorgan suggests.<\/p>\n According to experts, stock and bond markets underestimate the prospect of a Republican candidate returning to the White House.<\/p>\n Other factors include:<\/p>\n Experts noted the growth of stablecoin capitalization to $180 billion, observed before the Terra\/Luna collapse.<\/p>\n \n\u201cOverall, we are optimistic about digital assets until 2025,\u201d the review states.<\/cite><\/p><\/blockquote>\n Analysts maintain a conservative view on the medium-term outlook. They reminded that the current price of the leading cryptocurrency still exceeds the average mining cost of $47,000 and the volatility-adjusted level compared to gold at $63,000.<\/p>\n Also on ForkLog:<\/p>\n The anonymous developers of Hamster Kombat hinted at the imminent launch of the second season and commented on the HMSTR price decline.<\/p>\n \n\u201cThe price is determined by supply and demand; currently, many people prefer to sell their tokens. We are now focused on creating new products in the Hamster ecosystem that will attract newcomers,\u201d the developers stated.<\/cite><\/p><\/blockquote>\n Users will be offered \u201cmanagement of new enterprises.\u201d<\/p>\n \n\u201cTogether we will build a gaming platform, hire staff, and create new gaming hits!\u201d the announcement reads.<\/cite><\/p><\/blockquote>\n Previously, the project team promised to distribute 15% of the remaining HMSTR tokens among active players.<\/p>\n This week, ForkLog explained how TRON became Ethereum’s main competitor.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin neared $69,000, Canary Capital filed for a spot LTC-ETF, Vitalik Buterin identified Ethereum’s main challenge, Italy will raise the tax on bitcoin profits to 42%, and other events of the past week. Bitcoin Price Approaches $69,000 The leading cryptocurrency started the week below $63,000 but tested the $66,000 mark by Monday, October 14. The […]<\/p>\n","protected":false},"author":1,"featured_media":17916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1233,1244],"class_list":["post-17917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-industry-digests","tag-weekly-summary"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17917"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17917\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17916"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Snimok-ekrana-2024-10-20-v-18.47.33\"](\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-10-20-v-18.47.33-1024x640.png\")
![\"Snimok-ekrana-2024-10-20-v-18.47.53\"](\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2024-10-20-v-18.47.53-1024x593.png\")
Canary Capital Files for Spot LTC-ETF with SEC<\/strong><\/h2>\n
Vitalik Buterin Identifies Ethereum’s Main Challenge<\/strong><\/h2>\n
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Topics to Discuss with Friends<\/strong><\/h2>\n
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Italy to Raise Bitcoin Profit Tax to 42%<\/strong><\/h2>\n
JPMorgan Identifies Cryptocurrency Growth Drivers for Year-End<\/strong><\/h2>\n
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Hamster Kombat Team Comments on HMSTR Price Drop<\/strong><\/h2>\n
What Else to Read?<\/strong><\/h2>\n