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The price of bitcoin is up 7% in the last week to trade at $71,769 at 06:34 EST on trading volume that is up 15% in the last 24 hours.
With increasing trading volume, attention and interest in btc is growing, amidst which can be attributed to the fear of missing out. This FOMO is instigated by institutional interest in the pioneering cryptocurrency following the historic approval of multiple spot bitcoin exchange-traded funds (ETFs) on January 10 in the US.
London Stock Exchange to Start Accepting bitcoin and ethereum ETN Applications
In the latest development on this front, the London Stock Exchange (LSE) has revealed bitcoin-and-ethereum-etns-66tuep2iac04hnc.html” target=”_blank” rel=”noopener”>plans to welcome applications for bitcoin (btc) and Ether (eth) exchange-traded notes (ETNs), starting at the beginning of the second quarter.
The London Stock Exchange (LSE) has started accepting applications to list cryptocurrency ETNs in btc and eth in the second quarter of 2024. (Reuters)
– the UK regulator has allowed it. pic.twitter.com/EEmSUA4md1
– crypto Figure (@Crypto_Figure) March 11, 2024
Applications must follow a fact sheet which was previously published. He stocks%2C%20bonds%2C%20or%20gold” target=”_blank” rel=”noopener”>ETN They are “debt securities that provide exposure to an underlying asset,” the statement says.
ETNs are unsecured debt securities issued by financial institutions. They are intended to track the performance of an asset, btc or eth in this case. More generally, ETNs are used to track the performance of market indices, commodities, currencies, or other assets.
ETNs are different from the current cryptocurrency market euphoria around exchange-traded funds (ETFs). ETNs are not a representation of an ownership stake in a set of underlying assets, in this case btc or eth. Those who invest in ETNs earn a return based on the performance of the index or asset that the ETN is designed to track.
Additionally, ETNs carry credit risk associated with the institution that issues them.
The decision to approve the btc and eth ETNs came from the UK Financial Conduct Authority (FCA). With this, it is safe to assume that there is no opposition to the Recognized Investment Exchanges (RIE) proposals for the establishment of a listed market segment for cryptocurrency-backed ETNs.
The decision also stipulated that the ETN cryptocurrency would only be available to professional investors.
bitcoin price forecast as LSE plans to approve btc and eth ETNs
bitcoin price remains well above the psychological level of $69,000 after Monday's breakout that saw btc hit a high of $72,800. The next logical target for btc is $80,000, which could come soon as the market is still tilted in favor of the upside.
For starters, the Relative Strength Index is still heading north, suggesting growing momentum. This shows that the bulls are still in play. The Awesome Oscillator (AO) indicator is also displaying green histogram bars of large volumes, indicating that the bulls are maintaining a presence in the market. The volume indicator also shows green bars pointing to the strength of the primary trend.
<img decoding="async" class="aligncenter wp-image-488218 size-full" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin” width=”1273″ height=”540″ data-lazy-srcset=”https://technicalterrence.com/wp-content/uploads/2024/03/Bitcoin-Price-Prediction-As-London-Stock-Exchange-Allows-BTC-and.png 1273w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-12_13-31-34-300×127.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-12_13-31-34-1024×434.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-12_13-31-34-768×326.png 768w” data-lazy-sizes=”(max-width: 1273px) 100vw, 1273px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/03/Bitcoin-Price-Prediction-As-London-Stock-Exchange-Allows-BTC-and.png”/><img decoding="async" class="aligncenter wp-image-488218 size-full" src="https://technicalterrence.com/wp-content/uploads/2024/03/Bitcoin-Price-Prediction-As-London-Stock-Exchange-Allows-BTC-and.png" alt="bitcoin” width=”1273″ height=”540″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/03/Bitcoin-Price-Prediction-As-London-Stock-Exchange-Allows-BTC-and.png 1273w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-12_13-31-34-300×127.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-12_13-31-34-1024×434.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/03/BTCUSDT_2024-03-12_13-31-34-768×326.png 768w” sizes=”(max-width: 1273px) 100vw, 1273px”/>
TradingView: btc/USDT 1-Week Chart
On the other hand, if profit takers pull the trigger, bitcoin price could drop to the $60,000 threshold. Here, late traders and marginalized investors could find another buying opportunity.
As bitcoin price aims for the $80,000 target, traders and investors are already migrating to GBTC, a bitcoin alternative ICO that is gaining attention among investors seeking 1000X profits.
Promising alternative to bitcoin
With a total supply of 21 million GBT tokens, this altcoin is the token powering the Green bitcoin ecosystem. This crypto project uniquely combines the legacy of bitcoin with the ecological attributes of ethereum.
Nothing can stop the GREEN REVOLUTION!
Join the Green bitcoin Pre-Sale TODAY pic.twitter.com/YgwUk11Ay8
—GreenBitcoin (@GreenBTCtoken) March 11, 2024
The project offers a unique and sustainable staking model called Gamified Green Staking, where users can earn passive income through reward staking. Participants participate in daily and weekly btc price prediction challenges, with the potential to win attractive rewards of up to 100% token bonuses.
Will btc Price Break ATH in March?
Green bitcoin Pre-Sale Nears $2 Million Milestone – bitcoin News https://t.co/8ahQUYbJ5Q
—GreenBitcoin (@GreenBTCtoken) March 5, 2024
New live challenges are presented every week.
Green bitcoin is currently in the pre-sale stage, giving early investors the best opportunity for affordable entry. So far, token sales have reached over $3.514 million as the project moves towards its goal of $3.797 million.
Currently, each GBTC token is sold for only $0.8402. This price will last a little over four days before the hike. Buy now before the next price increase.
Visit and buy GBTC here.
Also read:
Green bitcoin: gamified green bet
- Contract audited by Coinsult
- Early Access Presale Live Now – greenbitcoin.xyz
- Predict to Win – Featured on Cointelegraph
- Staking Rewards and Token Bonuses
- $1+ Million Raised
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