Bitcoin locked over $4800

First cyptocurrency continues its growth on the background of big events planned
10 October 2017   1324

Continuing steady growth on Monday, October 9, the first crypto currency went to levels above $ 4800. As of 08:00 GMT on Tuesday, the average weighted bitcoin rate, according to Coinmarketcap, was $ 4,819.58, but subsequently dropped to $ 4,802.47 to a moment of press.

The observed increase in the price of bitcoin occurs against the background of the expected Bitcoin Gold hardfork later in October and the growing disagreements in the community regarding the SegWit2x. The latter, if nothing extraordinary happens, SegWit2x will have to happen in November.

Both hardforks assume the releaze of new coins for users, which is why high trading volumes are happening last 24 hours. Bitfinex, Bithumb, BitFlyer, HitBTC and GDAX exchanges became the top five leaders in the volume of deals with Bitcoin at this hour.

Over the past 24 hours, bitcoin has risen in price almost by 5%, while its dominance index with total capitalization of $ 152 billion is over 52%.

Bitcoin Charts
Bitcoin Charts

At the same time, we can see that whole bunch of altcoins are losing their "weight". 

Top ten cryptocurrencies chart
Top ten cryptocurrencies chart

As you can see on the chart above, besides Bitcoin, only NEM continues to grow. It gained more than 8.85% in last 24 hours.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   105

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.
 

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.
 

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.