The value of bitcoin hit its all-time high just a day after the first bitcoin futures exchange-traded fund (ETF) was launched on the New York Stock Exchange. On Thursday, October 21, the world’s most valuable cryptocurrency was trading at $67,139 (approximately Rs 50,25,433), with a marginal gain of less than one percent. The development comes like a breath of fresh air for bitcoin investors, who have seen a major dip in the crypto-coin experience in recent days, especially after September 15, when China criminalized and banned all crypto-related activities.
Keeping things interesting for crypto-investors, ether According to Gadgets 360 Crypto opened with a gain of 6.74 percent-price tracker The world’s second most valuable cryptocurrency is currently trading at $4317.72 (about Rs 3,23,182) per token.
Speaking to Gadgets 360, Edul Patel, CEO and co-founder of crypto exchange platform Mudrex, said that profit-booking was witnessed in the last 24 hours. Bitcoin Department.
“Bitcoin crossed the $67,000 mark for the first time in history. The last 24 hours have been an extremely eventful day for both investors as traders as the crypto spectrum made new highs. After all-time highs, we saw some gains in bitcoin. The largest Altcoin, Ether, continues its positive momentum,” said Patel, looking to the overall positive days ahead in the crypto space.
While countries such as China and Russia are taking steps to curb crypto-activities, the US is expanding ways to expose more people to the crypto space.
recently launched bitcoin futures etf The New York Stock Exchange, for example, has an exchange-traded fund that allows people to get exposure to bitcoin prices without having to buy the cryptocurrency directly. Exchange-traded funds are regulated financial products that can represent a wide range of different assets.
In fact, earlier this week the total capitalization of all cryptocurrencies crossed a milestone of $2.5 trillion (about Rs 1,87,42,625 crore) according to the cryptocurrency tracker. CoinMarketCap.
According to a study, the value of bitcoin, so far, accounts for about 45% of the total crypto market cap. coin.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.