Bitcoin remained stable for more than ten days around the level of 25,500 against the US dollar, and yesterday it rose to exceed the level of 28,000, but it declined in the morning hours to now record a price of 27,459 dollars.
Despite the rise that occurred yesterday, Bitcoin is still trading below the highest levels since June, and digital currency traders considered this rise a major victory after the US Court of Appeals ruled in favor of Gray scale, a company that sought to provide trading to its clients on a fund that tracks the price of Bitcoin. On the stock exchange, the US Securities and Exchange Commission worked to prevent this trading, after it attacked digital currencies and digital investments that were not registered or fell under the Commission’s laws.
In this regard, a wide segment of investors in this field waited until the view of Congress, the Securities Commission, and government agencies towards digital currencies was determined. The success of investing in exchange-traded funds, which are based on the price of Bitcoin, is a tremendous achievement in the industry and contributes to increasing trading and confidence in this. sector.
On the other hand, this ruling may lead to the approval of similar investments offered by major companies such as Fidelity and Black-Rock Corporation, and this investment helps to trade on the price of digital currencies without owning them or keeping them in a digital wallet, and this spread also enhances the strength of the price of Bitcoin. Against the dollar, this gives greater confidence and comfort while trading and investing.
This comes in light of a widespread campaign to attack digital currencies and lawsuits to regulate them by major regulatory bodies, and among the companies that were attacked was Coin base, and Gray scale Company filed this lawsuit against the Securities Commission, as this body was concerned about the risks to which investors are exposed and manipulation tricks. At the market.
Turning to the prices of other digital currencies, the price of Ethereum reached $1,716, Ripple recorded a price of $0.53, Litecoin recorded a price of $67.67, while the price of Bitcoin Cash reached $218.18.
