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Bitcoin prices: Bitcoin hovered near the 6-month high in ETF expectations, inflation worried

Cryptocurrency or bit-coin has come in a lot of trends in today’s time, many people are investing in it in today’s time, in this blog we are going to talk about its price which is very important for you to know.If you invest in cryptocurrency or bit-coin.

TOKYO: Bit-coin soared to a six -month high on Monday ahead of the listing of the first U.S. futures fund (ETF) to be listed in the near future, which investors hope will boost cryptocurrency trading volumes.

If the U.S. Securities and Exchange Commission (SEC) does not object, the ProShares Bit-coin Strategy ETF will expire 75 days since the fund manager announced plans and be able to begin trading on Tuesday.

Other fund managers may list bitcoin ETFs in the next few days and weeks and this could lead to wider investment in digital assets.

The world’s largest cryptocurrency last stood at $ 62,288, close to Friday’s six -month high of $ 62,944 and nearly hitting a total of $ 64,895 in April.

Ether, another popular token used on the Ethereum blockchain, traded at $ 3,866 and has been rising alongside bit-coin prices since mid -September.

“News of the futures stock chain is nothing new for those who monitor the space closely, and for many, this is a step forward, not a change felt by some,” said Chris Weston, head of research at Pepperstone in Melbourne, Australia.

“We were very happy with the previous local ETFs and this may require more work on the rules.”

Fund managers who have applied to market bitcoin ETFs in the United States include VanEck Bitcoin Trust, ProShares, Invesco, Valkyrie and Galaxy Digital Funds.

The Nasdaq on Friday approved the listing of the Valkyrie Bitcoin Strategy ETF. Grayscale, the world’s largest digital currency operator, plans to replace its flagship product, Grayscale Bitcoin Trust, with a bitcoin ETF, CNBC reported on Sunday.

After months between the SEC and potential bitcoin issuers in the future, regulators seem poised to roll out a handful of files that will open the door to wider access to cryptocurrency for retail and institutional investors.

Under the rules used by ETF issuers, the SEC is not required to provide explicit approval to ETFs, which can be initiated at the end of the 75 -day period if U.S. regulators. do not argue.

Financial investors expect that the approval of the first US bitcoin ETF will require an inflow of money from institutional players who are currently unable to invest in digital currencies.

Growing concerns about global inflation have also heightened appetite for bitcoin, which is in limited supply, in contrast to the large number of currencies issued by central banks in recent years as monetary authorities print money to stimulate their economies.

“Unlike previous tournaments, there isn’t much turmoil in the market. More and more investors are starting to think that inflation may not be temporary and bitcoin can be chosen as a hedge against inflation,” said Makoto Sakumra, a researcher at the NLI Research Institute.

Bitcoin: Millennials Pull Crypto Out Of The Shadows In India

In hundreds of small towns and cities in India, a generation that has almost no experience with stocks and bonds is moving directly to bitcoin, ethereum, cardano and solana. The average age of 11 million users of CoinSwitch Kuber, a cryptocurrency trading application that didn’t exist 18 months ago, is 25 years old, and 55% of them are from major cities like New Delhi or Mumbai.

The widespread acceptance of digital tokens by Millennials and Generation Z is helping to lift the industry out of the shadows since 2018, when the founder of the crypto stock exchange was briefly in police custody for daring to set up a kiosk in a Bangalore mall, Where people could trade their bitcoins for money. Now business is very public and very visible. CoinSwitch Kuber has joined the popular Bollywood youth icon for an ad campaign titled “Kuch Toh Badlega” – Kuch Toh Badlega.

For CoinSwitch, which began as an aggregator of the best real-time prices for digital assets around the world, something already exists. In 2018, the newly launched venture could not run on its turf as the Monetary Authority of India directed banks not to entertain customers dealing in virtual currency. It was not until March last year that the Supreme Court lifted the ban. CoinSwitch, whose application was released in June, bought 11 million customers in 16 months. Investors eye the startup: It recently became the first in the country to raise $1.9 billion in Silicon Valley venture capitalist Andreessen Horowitz.

After becoming mainstream in such a short period of time, the industry is looking to regulate itself. “We have decided to show our face,” said Ashish Singhal, one of the three co-founders of CoinSwitch. “Even if regulation hurts our business in the short term, it is better than being forced to operate in a gray area with less security and without much room for growth.”

The fear of being banned has increased since last year’s court order gave new life to a dying industry. But now this danger is decreasing. While Beijing announced last month in the clearest terms that it was determined to root out all virtual currency transactions, the general consensus is that New Delhi would be reluctant to take such an extreme step. This is partly because the relationship between private business and the state is different in India, where politicians need corporate donations to contest expensive elections, and citizens do not like being told by the government whether tuition, online games – or owning cryptocurrencies – is bad. for them.

But part of the industry’s confidence stems from the belief that policymakers are confident about the benefits of a blockchain-based innovation economy. iSPIRT, an influential Bangalore-based think tank, advises India to embrace the growing sector of decentralized finance to close the $250 billion financing gap for small and medium-sized enterprises and all like Balaji Srinivasan, former chief technology Online Wall Street builds for. This is described by executives from the largest US cryptocurrency exchange Coinbase Global Inc.

“We, as a country, have missed Internet 1.0,” Singhal said. “We gave Google and Microsoft world-class talent, including their current CEOs, but we didn’t create those titans. With blockchain, we can build some global giants.”

However, the widespread adoption of crypto trading is making authorities – especially central banks – uneasy. CoinSwitch isn’t the only company that uses celebrity endorsements to promote trading ahead of Diwali, the traditional gold buying season. According to Bloomberg News, executives recently met Amitabh Bachchan and informed the Bollywood superstar about their concerns regarding his deal with another Indian crypto-exchange CoinDCX as the brand ambassador.

The current speculative enthusiasm could use some tension, although it is too late to try something more drastic. “It would not be fair for Generation Z investors to defer the entire asset class beyond sanctions,” said Sharan Nair, chief business officer at CoinSwitch. I want to solve the problems in the world. What can they do as a shareholder of a bank whose website they do not like? ”

According to a survey by data analytics firm Kantar, around 83% of urban Indians are aware of digital currencies, while 16% actually have them. They want more – cryptocurrency extraction is now half as strong as mutual funds, a product with which older generations have a very close relationship. It offers a glimpse into the future of investors’ portfolios: a mix of digital assets and traditional financial products. Even without the reflected light of Bollywood stars, the crypto industry in India is not going dark again.

Top Cryptocurrency Prices Today: Bitcoin, Binance coin, Dogecoin add 2%

New Delhi: The major cryptocurrencies lacked strong action on Monday after rising sharply over the weekend. However, most of them traded in the red as investors remain cautious.

Six of the top 10 cryptocurrencies were down at 9.30 am. Bitcoin and Binance Coin were the main coins that maintained their gains, while Solana and Cardano each lost 2%.

The global crypto market has grown marginally over the past day, hovering near $2.5 trillion. However, the total volume of the crypto market declined by 4% to $87.71 billion.

Mudrex CEO and co-founder Edul Patel said that the consolidation of bitcoin over the past few days has given investors anticipation of a move higher, as BTC crossed the $62,000 mark in the past 24 hours.

“The rest of the cryptocurrency market remains cautious about movements in BTC and ETH. The cryptocurrency spectrum is likely to be volatile over the next 24 hours,” he added.

Over the weekend, the U.S. The Securities and Exchange Commission announced the first U.S. approved exchange-traded futures fund. This is a turning point for crypto, said the CoinDCX research team.

“Other virtual currencies have also responded positively, with Ethereum reaching nearly $4,000 and Solana trading green over the weekend. The launch of the Bitcoin Futures ETF will open up crypto to a wider investor base, especially for crypto start-ups. Want to enter the crypto market., say.

Cryptocurrency is waiting to explode in India, and Ashish Singhal, co-founder and CEO of major cryptocurrency exchange CoinSwitch Kuber, aims to track at least 50 million users in India over the next two years, educating them about cryptocurrencies. And to help them build wealth.

In hundreds of India’s small cities and towns, a generation that has hardly had any experience with stocks and bonds is heading straight for Bitcoin, Ethereum, Cardano and Solana. The average age of the 11 million users of CoinSwitch Kuber, a cryptocurrency trading app that didn’t exist 18 months ago, is 25, and 55% of them are from outside large metropolises like New Delhi or Mumbai.