Weekly Crypto Wrap Up: October 23, 2021 – October 29, 2021


This weekly wrapup for crypto covers noteworthy news between October 24, 2021, to October 29, 2021. Please note that crypto values are volatile and the value presented here may not be accurate by next week or even the next couple of days.  

Noteworthy Crypto News for the Week


  • First h2 contains links/numbers or surveys of the topic you do research. Insert a citation link in the first 300 words of the first H2.
  • 5-10 events
  1. Bitcoin Reaches an All-Time High

The facts

  • Bitcoin reaches an all-time high with its value reaching $66,974
  • With the New York Stock Exchange featuring a possible Bitcoin ETF, a lot of investors have suddenly expressed interest in Bitcoin increasing its value
  • The Bitcoin ETF will be traded under the ticker named BITO 

Why it’s relevant

  • Many Bitcoin enthusiasts think that this could be a step in the right direction as it will help open up Bitcoin to numerous opportunities which can increase its value several times.
  • This doesn’t just affect Bitcoin but also other cryptocurrencies, as well as the increase in Bitcoin’s value, will also give a spotlight to other cryptos on the side.
  • Other cryptos might also be getting an ETF in the future
  1.  FDIC starts to open up to Crypto

The facts

  • The Federal Deposit Insurance Corporation (FDIC) chair Jelena McWilliams states that they are open to providing banks a pathway to use digital assets such as crypto as a form of collateral.
  • Jelena McWilliams says that regulators should be open to innovation and that the role of the government is to promote growth instead of inhibiting it.
  • To quote Jelena McWilliams, “If we don’t bring this activity inside the banks, it is going to develop outside of the banks. …The federal regulators won’t be able to regulate it”

Why it’s relevant

  • As Jelena McWilliams stated, if federal regulators aren’t going to bring crypto and digital assets inside banks, then it’s going to develop on its own without the use of banks. Hence her reasoning is that it’s better that they accept crypto now so that they can better regulate it.
  • This is important since it will help normalize the use of crypto and other digital assets making it easier to use in our day-to-day lives.
  • It will also make it much easier to withdraw and deposit crypto assets in the long run.
  • Lastly, it will help legitimize cryptocurrencies in other governments paving the way to further innovation. 
  1.  Bitcoin stabilizes near the $60,000 this week

The facts

  • Bitcoin manages to stabilize near $60,000 after its drop from its all-time high of $66,974
  • Bitcoin experienced a sudden drop in value on October 29, 2021, going as low as $57,653 but it quickly stabilized going over the value of $60,000

Why it’s relevant

  • With the recent news surrounding Bitcoin a lot of investors are excited and nervous at the same time regarding its value. Considering that it reached an all-time high, people who have invested are hopeful that it will remain near that value or at least stabilize at a reasonable value after a while.

We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.



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