The price of bitcoin is rising on Thursday, October 7. As of 09:30 MSK, the first cryptocurrency is trading at $54,741.98 (+5.94%), according to CoinMarketCap. TradingView's BTC/USD chart of Bitstamp exchange Ether rose to $3545.14 (+1.57%). Binance Coin rose 0.75% to $438.68. FxPro's analyst team notes: "Bitcoin has jumped 6% in the last 24 hours and is trading around $55,000. For the week, the rise is even more impressive at almost 26%. The first cryptocurrency's capitalisation has crossed the $1 trillion threshold, while the total value of digital currencies is estimated at $2.3 trillion.
As part of bitcoin's current growth, it is worth noting that other cryptocurrencies are not showing the same optimistic momentum. Against this background, bitcoin's dominance index has turned sharply upwards and now stands at 45%. The Greed and Fear Index for bitcoin and major cryptocurrencies jumped 56 points from last week and switched to "extreme greed" mode, fully reflecting what is happening in the crypto market. Among the likely reasons for the rise is a statement from SEC head Gary Gensler that the regulator has no plans to ban cryptocurrencies. The Soros fund manager has said it is investing in bitcoin. Apparently, there's plenty of unspent optimism in the market, and at this stage, investors have enough of even such newsworthy reasons to initiate buying."