BTC Surges Over $57,000, Q4 Bullish Seasonality & Eth Sign In – The Next Phase Of Digital Security?

Bitcoin has surged over the $57,000 level as it embarks on another bullish leg. The fourth quarter of the year is typically bullish for the kingpin cryptocurrency, which saw a 170% upside in Q4 2020. BTC has had a strong start in Uptober (see what I did there?), rising above the $55,000 mark for the first time since May.

BTC/USD DAILY CHART

Analysts have attributed the appreciation of BTC to rumours of the SEC approving the first BTC futures exchange traded funds in the coming weeks. SEC Chairman Gensler also supports the idea of a Bitcoin backed futures ETF, which would invest in BTC futures rather than the underlying asset.

Could Signing In With Ethereum Be The Future?

An interesting article on Coindesk investigates the rising concerns with online security when using automated logins with services such as Auth0. For example blog sites or game apps may require you to login with Facebook or Google – all constructing the “Big Login”.

Ethereum sign in would provide users with control over their digital privacy and develop a decentralised identity standard. This would involve using your eth wallet as an identifier across multiple services, providing an anonymous approach to controlling ones own personal information.

The potential uses for an ETH login are limitless, and pose an interesting lens into the future of cyber security.

Published by Tom Stewart

Head of data analytics at TradeProofer. Analyst at Opes Trading Group. FX enthusiast.

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