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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.

PNB Housing Finance Share Price: PNB Housing reports sharp drop in target, “sell” rating, as a contract with Carlisle was canceled

New Delhi: The NBFC is seeing a significant difference after the board decided not to pursue a proposed preference issue of Rs 4,000 million per share to Carlyle Group, General Atlantic, SSG Group and other investors.

Some brokers have lowered their ratings to ‘sell’ and lowered price targets significantly due to lack of growth capital, weak balance sheets and uncertainty about high NPAs.

The stock has seen a rebound and nearly doubled since the capital infusion was announced in May. But now that the deal has been canceled, ICICI Securities says at the moment the stock is likely to decline 0.75x from 1 in the FY23 book, as growth momentum has stalled.

The brokerage said the priority issue was an important trigger for the stock revaluation as it would strengthen PNB Perumahan’s balance sheet and support growth.

“We have reduced our earnings estimates by more than 10 per cent for FY22 and more than 20 per cent for FY23. Given this unfavorable growth, we revised our target price from Rs 848 to Rs 485. We downgraded the stock from ‘buy’ to ‘buy’. sell ‘, “said ICICI Securities. ICICI’s latest target is 42 percent lower than the previous target.

PNB Housing Finance Share Price: PNB Housing reports sharp drop in target, “sell” rating, as a contract with Carlisle was canceled

Another brokerage firm, Nirmal Bang Institutional Equities said NBFC had struggled to raise capital for more than two years, which had impacted new business generation and AUM’s growth, especially at a time when profits were declining due to preparation. I have come.

“At the moment, the company is back from before the capital increase announcement, which means uncertainty has returned. With the stock more than doubling (120 percent at its peak) since the deal was announced. The transaction is closed, we expect a sharp decline in value for the stock,” he said.

PNB Perumahan, Nirmal Bang said, concerns about lack of growth capital, weak balance sheet and underperforming assets need to be addressed.