Bitcoin price has increased by 7% in the past week and is currently trading at $71,769, with trading volume increasing by 15% in the past 24 hours as of 06:34 EST.
As trading volumes surge, attention and interest in Bitcoin are also growing, likely due to fears of missing out. This panic is due to institutional interest in the pioneering cryptocurrency, primarily due to the approval of multiple spot Bitcoin exchange-traded funds (ETFs) in the United States on January 10.
The London Stock Exchange will begin accepting applications for Bitcoin and Ethereum exchange-traded notes (ETNs). Applications will be accepted from the beginning of the second quarter.
The application must follow a briefing note issued earlier. The exchange-traded notes are "debt securities that provide exposure to underlying assets," the statement said.
Exchange-traded bonds are unsecured debt securities issued by financial institutions. They are designed to track the performance of an asset, in this case Bitcoin or Ethereum. More broadly, exchange-traded bonds are used to track the performance of a market index, commodity, currency, or other asset.
Exchange-traded bonds are different from the current crypto market frenzy surrounding exchange-traded funds (ETFs). Exchange-traded bonds do not represent an ownership share in the underlying pool of assets, in this case Bitcoin or Ethereum. People who invest in exchange-traded bonds receive returns based on the performance of the index or asset that the exchange-traded bond is designed to track.
In addition, exchange-traded bonds carry the credit risk of the issuing institution.
The decision to approve Bitcoin and Ethereum exchange-traded bonds came from the UK’s Financial Conduct Authority (FCA), so it’s safe to assume that there were no objections to the proposal by recognized investment exchanges (RIEs) to establish a listed market segment for exchange-traded bonds backed by cryptocurrencies.
The decision also stipulates that crypto exchange-traded bonds are only available to professional investors.
Bitcoin Price Prediction: London Stock Exchange Plans to Approve Bitcoin and Ethereum Exchange-Traded Bonds
After Monday’s breakout, Bitcoin price remains well above the psychological barrier of $69,000, having hit as high as $72,800. The next logical target for Bitcoin is $80,000, which could be achievable soon as the market remains biased to the upside.
Firstly, the RSI is still rising, indicating that momentum is building. This shows that bulls are still in play. The Awesome Oscillator (AO) indicator is also showing green histogram bars on huge volume, indicating that bulls are still in play in the market. The volume indicator is also showing green bars pointing to the strength of the primary trend.
On the other hand, if profit takers start selling, the Bitcoin price could drop to the $60,000 threshold. Here, late traders and investors on the sidelines could find another buying opportunity.
As the Bitcoin price looks toward its $80,000 target, traders and investors have begun turning to GBTC, a popular Bitcoin alternative ICO among investors seeking 1,000x gains.
As the power token of the Green Bitcoin ecosystem, the total supply of GBTC tokens is 21,000,000. The crypto project uniquely combines the tradition of Bitcoin with the environmentally friendly characteristics of Ethereum.
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The project offers a unique sustainable staking model called gamified green staking, where users can earn passive income through staking rewards. Participants can participate in the Bitcoin price prediction challenge every day and every week for a chance to win token rewards up to 100%.
Green Bitcoin is currently in its pre-sale phase, providing early investors with the best opportunity to get in. So far, token sales have raised over $3,514,000, and the project is rapidly moving towards its $3,797,000 goal.
Currently, each GBTC token costs only $0.8402. Buy now as there are about four days left before the next price increase.
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Also read:
London Stock Exchange to Start Accepting Applications for Crypto-Traded Bonds in Q2
Top Cryptocurrencies with 10x Potential in 2024 - Green Bitcoin, AI Scotty and Frog Wif Hat
Bitcoin Price Prediction: Bitcoin Soars 9% to 27-Month High as BlackRock Bitcoin ETF Sees Record $1.3B Inflows - Is It Time to Buy Bitcoin?
Why You Should Pay Attention to Green Bitcoin (GBTC) - The Next Market Hot 50x Coin
Green Bitcoin (GBTC) is a coin you can’t miss - learn about its gamified green staking
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