The price of Bitcoin, a representative cryptocurrency, has crossed the $60,000 mark. This is the highest price since April.
According to CNBC broadcast on the 15th (local time), the price of Bitcoin recorded $6314 per coin in the morning. Since then, it has been moving around $60,000.
Bitcoin’s all-time high of $64,895 is also expected.
Bitcoin prices soared because of the prospect that the US Securities and Exchange Commission (SEC) will approve the first Bitcoin exchange-traded fund (ETF) in the US next week.
Earlier, Bloomberg reported, citing an anonymous source, that the SEC is likely to soon approve ETF products created by ProShare and Invesco, respectively, based on Bitcoin futures contracts.
If approved, ProShare’s Bitcoin ETF can be traded on the New York Stock Exchange (NYSE) from the 19th.
Earlier, Bitcoin ETFs were launched in Canada and Europe. If Bitcoin ETFs are traded in the US, Bitcoin investment is expected to gain even more momentum.
However, the possibility that the SEC may reject the ETF application cannot be completely ruled out. In this case, the price is expected to drop below $55,000.
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