August 12, 2022

Price analysis 2/12: BTC, ETH, ADA, XRP, DOT, BNB, LTC, LINK, XLM, BCH

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Financial regulators across the world finally seem to be warming up to the idea that cryptocurrencies can trade in tandem with stock markets and also in exchange-traded funds (ETF).  On Feb. 11, Canada’s Ontario Securities Commission approved the proposal of a Bitcoin ETF by Accelerate Financial, which marks the first approval of a Bitcoin (BTC) ETF in North America.

The Australian Securities and Investments Commission has also softened its stance toward a Bitcoin ETF. ASIC commissioner Cathie Armour said a Bitcoin ETF may get the green light if the particular market has proper rules in place.

The approval of Bitcoin ETFs by several countries will put pressure on the regulators in the U.S. to consider future proposals favorably.

Daily cryptocurrency market performance. Source: Coin360

Bitcoin soared above a $900 billion market capitalization today, bringing it within a striking distance of the $1 trillion figure.

The growing popularity of the crypto derivatives market is another added advantage as it shows the asset class has matured. Even in legacy markets,Title: Price analysis 2/12: BTC, ETH, ADA, XRP, DOT, BNB, LTC, LINK, XLM, BCH
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Published Date: Fri, 12 Feb 2021 20:15:00 +0000