Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE
200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |
View more Headlines & Breaking News here, as covered by cryptopolytech.com
Bitcoin back above $30,000 levels in year marred by scandals appeared on www.news9live.com by News9live.
What will the Parliamentary Committee have to say about the domestic cryptocurrency sector? It’s observations will be vital. (Pic credit-PTI)
Bitcoin has emerged resilient amid global economic crises, making the case for an unregulated currency when regulatory institutions have struggled to check banking crises. The bitcoin has surged more than 50 per cent higher compared to last year.
New Delhi: The world’s foremost cryptocurrency bitcoin has surged back above $30,000 levels for the first time since April, touching $30,686.20 apiece at 5:48 pm, according to Yahoo Finance data.
The digital currency briefly touched $31,103 apiece, the highest since June 2022.
While the new price is at a 50 per cent premium compared to last year, it is still lower than the all-time high of $69,000, show data.
To be sure, the cryptocurrency space has been hit by multiple scandals and regulatory actions in recent weeks, with the US SEC going after crypto exchanges Binance and Coinbase earlier this month.
Also read: Apple taps HDFC Bank for credit card, NPCI for Apple Pay
However, bitcoin evangelists are finding the current macroeconomic scenario to be a play out of the theses that guide the cryptocurrency movement.
Digital currency advocates vouch for in-built transparency in the blockchain structure of these tokens. They also call for unregulated and free movement of currency in digital form.
The recent US banking crisis, mismanagement by the central bank, and rising inflation form the classic case for bitcoin supporters to advocate a shift to the cryptocurrency, Bloomberg reported, citing Strahinja Savix, Head of Data and Analytics at FRNT Financial.
Cryptocurrencies may have also gathered steam based on investment fund BlackRock’s filing for a crypto-linked exchange-traded fund.
Also read: Bitcoin surges despite US SED crackdown on Binance and Coinbase
This was followed by reports of the launch of similar ETFs by asset managers Invesco and WisdomTree. The continued uncertainty in global and US economic conditions may make for a fertile trading ground for cryptocurrencies.
The end of US economic resilience will make for “interesting” watch on “how Bitcoin and all other top cryptos perform,” said OANDA Senior Market Analyst Ed Moya.
Another positive development has been the enablement of euro payments by JP Morgan through its digital coin JPM.
FEATURED ‘News of the Day’, as reported by public domain newswires.
View ALL Headlines & Breaking News here.
Source Information (if available)
This article originally appeared on www.news9live.com by News9live – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.
CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!