Among the highlights of the week is the approval, by the United States Securities and Exchange Commission (SEC), of the prospectus presented by ProShares for the launch of a exchange-traded fund or Bitcoin futures ETF this week.
The news led to the rise in the price of BTC, which once again exceeded USD 60,000, a value that had not reached for six months. The average weekly growth is estimated at 10% . At the time of writing, it is priced at USD 62,163, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.
With CriptoNoticias, interested parties they can keep up to date on the price changes in the bitcoin and ether market relative to their local currency. To do this, they can visit the BTC and ETH Prices section, which has a calculator to make conversions quickly and easily to your national currency.
These are the most outstanding news:
- This week the SEC approved an exchange-traded fund (ETF) of bitcoin futures for the company ProShares . The decision comes after several years of unsuccessful attempts at the SEC by investment companies. These are companies that want to expand their offer for institutional investors, something that may finally be possible from this week in the United States. However, some ecosystem specialists, such as Raoul Pal, Preston Pysh and Lyn Alden, do not see any sense in ETFs based on Bitcoin futures, as they consider that these products contradict the preference of cryptocurrency users to safeguard their money.
- Expectations about the launch of a Bitcoin ETF gave new impetus to the price of the pioneer cryptocurrency. With the rally, the value of BTC is less than 8% from exceeding its most recent all-time high of UD 64,642, reached on April 14. In this regard, Jurrien Timmer, director of global macroeconomics at Fidelity Investments, one of the largest mutual fund companies in the US, believes that the rally will continue for the next two years and predicts that the cryptocurrency will reach USD 100,000 in the year 2023.
- According to a new study published by the Cambridge Center for the Financial Alternative, by the end of July 2021, 35.4% of the mining power or rate hash of the Bitcoin network was concentrated in the United States . This, due to the migration of miners from China caused by government bans. The Asian country now has 0% of the hash rate, after having had 44% last May. Even AntPool, the Bitcoin mining pool with the highest hash rate, announced that it will begin to block access to its platform to users whose IP address is from China.
- According to the report «The State of Lightning «, published by Arcane Research, the volume of payments in the wallets created on the Bitcoin Lightning network increased 20% monthly from January to August. Only in September the rise was 26%. The boost, to a large extent, was due to the adoption of bitcoin as legal tender in El Salvador, a fact recorded on September 7. On this subject they also highlighted the statements of the co-founder of Ethereum, Vitalik Buterin, who considers that forcing merchants to accept cryptocurrency is a measure that goes against the ideals of freedom that should be defended by the community.
- According to a recent study, carried out by the marketing agency Sherlock Communications, part of the public opinion indicates that Costa Rica has lagged behind other countries in the field of Bitcoin adoption. However, the research also indicates that Costa Rica has the potential to become the next El Salvador, thanks to its openness to cryptocurrencies. Meanwhile, in Mexico, President Manuel López Obrador assured that his country will not follow the path of El Salvador and will not use bitcoin or seek innovation.
If you want to know the meaning of several words in the crypto world terminology, you can consult them in the extensive CryptoNews Glossary.
HODL: in its beginnings, it was a typographical error of a user of the Bitcointalk forum in 2013. This changed Holding (keep or keep) by Hodling, to refer to the tactic of many users to keep their bitcoins or cryptocurrencies without selling them even when they fall in price. The error became popular and is now used to refer to the phrase “keep as if your life were in it”, in reference to the cryptocurrency market.