| It's been a very productive week in the cryptocurrency market, but it's safe to say that most of it was due to the volatile price action during just one of the days – Friday, October 1st. Going back, last Friday, the BTC price was hovering around $43,500, and, in fact, it stayed there for quite some time. This wasn't so bad, given the overall regulatory scrutiny towards the market and yet another wave of FUD coming from China. The country said that it's banning the trading of cryptocurrencies (again), though some reports claimed that this time it's different, and perhaps it's true. As an argument in favor of it, Huobi – one o the world's leading cryptocurrency exchanges with a large portion of its trader's base coming from China – stopped accepting new users from the region. In any case, after the initial negative impact on Bitcoin's price, the cryptocurrency was consolidating for most of the week. Today, however, BTC surged and poked $48K. This happened as the SEC Chair, Jerome Powell, said yesterday that they have no intentions of banning Bitcoin and other cryptocurrencies. The result was immediate – Bitcoin surged, pushing the entire market with it, adding $170 billion to the total capitalization. Ethereum is up around 1.5% in the past seven days, keeping in mind that today alone, the price surged by over 7%. BNB is up 7% on the week, Uniswap is up 15.6%, and so forth. | 
Bitcoin at 10-Day High After Powell and Despite China FUD: The Weekly Recap