Crypto Roundup: October 4, 2021

Bitcoin has started October with a push in the hope of long-awaited ETF approval, towards $ 50K.

Top crypto added 10% in just a few hours on Friday, as traders “October”And celebrated the support of some loudly regulatory voices. Gary Gensler, chairman of the Securities and Exchange Commission (SEC), renewed his support for the Bitcoin Futures ETF on Wednesday, and Fed Chairman Jerome Powell said Thursday that the central bank has no plans to ban cryptocurrencies.

Meanwhile, the Tezos NFT Mania has reached an all-time high of over $ 9 and has doubled Algorand, Chainlink and Engine. The protocol erroneously increased the trend by reducing the compound by 7% after giving users more than 90 90 million.

This week’s highlights

  • Bitcoin swayed more as Gensler confirmed ETF support
  • Visa location for a multi-chain future

Bitcoin swayed more as Gensler confirmed ETF support

Across the crypto market, prices are rising in anticipation that Bitcoin ETFs may finally be given the regulatory green light.

In a comment to the Financial Times on Thursday, SEC Chairman Gary Gensler renewed his support for the Bitcoin ETF backed by future contracts, suggesting that some of the ETF applications considered next month could be approved.

The long-awaited ETF will allow investors to gain exposure to Bitcoin using a standard brokerage account without having to buy underlying assets. Analysts have argued that this would lead to a large price increase, probably reflecting the astronomical gains of gold seen after the approval of the first gold-backed ETF.

Visa location for a multi-chain future

As funds flow into various blockchains across the digital resource ecosystem, Visa seeks to move beyond the curve.

Payment giant outlines its vision for a “Universal Payment Channel” (UPC), which will

Acts as a “blockchain network” – connecting various digital assets such as stable coins with the future central bank’s digital currency.

If previous attempts have to do something, attempts to incorporate Visa Crypto may meet with success. In March, the company began allowing users to settle USDC payments directly into Ethereum and recently showed its commitment to the ecosystem by buying a CryptoPunk NFT.

The week ahead

The price action move in the last few days has pushed the crypto sentiment index back to neutral after fears of September.

This reflects growing optimism about the macroeconomic turmoil for Bitcoin, driven by continued inflationary concerns and calls for the creation of a trillion-dollar currency as a debate over the limits of the trunk.

In fact, Many traders Now they are speculating that the U.S. government could replicate their debt default in 2011, replacing gold as a hedge against bitcoin uncertainty.

Image by Estelle_ from Pixabay

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