Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at if you have any questions. The trading volume also experienced a boost, with a 30% increase in the last 24 hours. On BTC market performance, the current price of Bitcoin was traded at $30,193 in the last 24 hours – but has been hovering around $29,985 – $30,427 before arriving at the current price level. □ Also read: Binance Targets UAE As The Major Centre For Its Operations The said agreement contains “surveillance-sharing” of a BTC trading platform. This development has been linked to the prospective market manipulations found in the spot BTC marketplace.īlackRock has made some practical moves to address these concerns by agreeing with Nasdaq on the proposed Exchange Traded Fund (ETF) listing platform. Information also shows that the Securities and Exchange Commission (SEC) has continuously turned down the proposal for BTC ETFs – especially those without future contracts. If the forecast is accurate, the digital currency will achieve a critical milestone by hitting $50,000 by the end of 2023, establishing its status as a legitimate asset class within the global financial system. The recent projection from Standard Chartered contributes to the rising confidence regarding Bitcoin’s future as cryptocurrency discussion rages. The bank is certain that Bitcoin’s value will rise due to growing institutional adoption and its potential to act as a hedge against inflation and economic instability. The cautious stance taken by the SEC against Bitcoin ETFs based on futures contracts may provide a problem, but Standard Chartered’s forecast implies that the market’s attitude is changing. □ Also read: Top Blockchain Certification And Training Courses For 2023 If accepted, the Bitcoin ETF would give investors a more controlled and convenient way to access Bitcoin’s potential.īitcoin Market Maintains Normalcy Amid Standard Chartered’s Forecast In a commentary, Jordan Major, CoinGape cryptocurrency analyst, said that BlackRock’s investment in Bitcoin has elevated the digital currency to the forefront of established finance, which now has over $800 billion in assets. BlackRock’s decision to investigate a Bitcoin ETF has caused waves throughout the financial sector, with many institutions now acknowledging the increasing significance of cryptocurrencies. Kendrick’s study considers the recent surge in institutional interest in Bitcoin, partly sparked by investing giant BlackRock’s June 15 application to U.S. Revisions to the bank’s forecast by renowned Foreign Exchange (FX) specialist Geoff Kendrick point to a 20% possible increase in Bitcoin’s value. The bank first predicted $120,000 for Bitcoin by the end of 2024 in April, indicating its long-term positive view on digital assets. According to Standard Chartered, “the future of Bitcoin is still bright, despite this regulatory obstacle.” In its cautious approach to accepting cryptocurrencies, the Securities and Exchange Commission (SEC) has repeatedly rejected proposals for Bitcoin Exchange-Traded Funds (ETFs) that are not based on futures contracts. This declaration coincides with the ongoing discussion of over-regulating and integrating cryptocurrencies into established financial markets. By the end of 2023, Standard Chartered Bank, a reputable financial organization with over $800 billion in assets, predicts that Bitcoin’s value might soar to $50,000.
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