Bitcoin close to new records in weekend trading

The breaking news on Friday concerning Bitcoin and the potential launch of an ETF (Exchange Traded Fund) had a dramatic and instantly positive impact on the lead cryptocurrency. The price rose above 60k for the first time since May following reports in the media; that the US SEC (Securities and Exchange Commission) may soon allow the launch of such a fund. Well, beyond the initial euphoria, it appears that many insiders had been expecting such news to become a reality. It also seems that the launch of an ETF by US authorities may be the forerunner of the imposition of regulation which is directly opposed to what Bitcoin is and what it stands for: deregulation. Finally, there are already similar products in existence elsewhere. However, and not wishing to let a good story get in the way of a move, it was clearly the right kind of news based catalyst to help BTC over the gain line on Friday. The price rose close to 63k. It did drop back to test 59k in weekend trading last night, but it has rebounded once again in Asia today, recapturing the 62k handle. It is close to session highs right now, currently trading at $62,360 and clearly still has the all time record high (64,888) in its sights