the world of Cryptocurrency At this point, bullishness is rising in anticipation that the United States authorities will approve Bitcoin ETFWhich – if realized – could be a major step for the future of this market.
The price of major cryptocurrencies has reached a level in the last 24 hours. Top of US$ 47,100But then it moderated and now it’s around US$46,700. This is due to the possibility that the SEC, the United States Securities and Exchange Authority, will allow some managers to create exchange-traded funds (ETFs) tied to Bitcoin.
The approval of the Bitcoin Spot ETF was expected last week, causing sudden excitement and disappointment among investors. As a result of this a Strong price volatility. However, market versions now suggest that the new financial instrument could be approved next Wednesday, January 10. If this happens, it will mean an important legalization for BTC and the entire world of digital currencies, which may reflect Significant increase in prices.
LMAX analyst Joel Kruger speculated Bitcoin can quickly increase between 10% and 15% If the ETF is given the green light. Meanwhile, the Bitgate exchange states that the cryptocurrency could reach a price of US$100,000 this year.
In this regard, the global capitalization of the crypto market has increased by 4.8% in the last 24 hours, bringing its estimated valuation to 1.79 billion.
Meanwhile, the Fear and Greed IndexWhich generally represents the thermometer of the ecosystem, it is located in the area of ”extreme greed” with an advance of five points compared to Monday (from 71/100 to 76/100).
Bitcoin and Ethereum price: How much they are trading today, Tuesday, January 9
Bitcoin (BTC), the oldest and most popular cryptocurrency in the market, saw its price increase by 4% in the last 24 hours and was around US$46,730 today.
Despite the ups and downs seen in recent days, it must be remembered that BTC gained 158.4% on the year according to Coingecko, a site specializing in monitoring the price of crypto assets.
Ethereum (ETH), for its part, showed an increase of 2.1% on the last day. Thus, the second most relevant cryptocurrency in the market started quoting from US$2,302.
