US SEC may approve bitcoin exchange traded funds.
For some time, other cryptocurrencies including bitcoin are seeing a boom again. At 3 o’clock in the afternoon, Bitcoin was trading above $ 57 thousand, while Ethereum was at the level of $ 3475. Bitcoin has gained 13 percent in the last one week and more than 25 percent in a month.
Crypto market experts say that once again bitcoin will reach a record high and there is also a possibility that it will break the old record of 65 thousand dollars. In April 2021, the cryptocurrency crossed the level of 65,000 dollars, which is a record high so far. There are many main reasons for the boom in the crypto market. According to a Bloomberg report, there are signs of a reduction in regulatory barriers regarding crypto from the US and China. Apart from this, it is also believed that the US Securities Exchange Commission (SEC) may approve the bitcoin exchange-traded fund.
Can get approval from US SEC
This news has a big contribution in the current rally. Investors expect the US Exchange Commission to approve the Bitcoin futures ETF very soon. Big fund houses around the world have started investing in crypto. After getting a signal from the SEC, they went ahead with their decision and chose Bitcoin from the fund house crypto market. It is the oldest and largest brand in the cryptocurrency market.
60 thousand dollars first target
Bitcoin is currently at the level of 57 thousand dollars, so about where it can reach in the short term, analysts say that the first target is 60 thousand dollars. JP Morgan CEO Jamie Damon said that cryptocurrencies will be regulated very soon. He clearly said in an address that the US government is going to regulate it.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.