Analysts at JPMorgan Chase have lowered their long-term Bitcoin price target of $150,000 to $38,000 after the price of the flagship cryptocurrency fell to an all-time high of $67,000 from $34,000 before recovering.
Deloitte: According to the Survey, 82% of Indians Plan to Invest in Crypto After the Government Provides Regulatory Clarity
A recent survey by Deloitte shows that when the government provides real clarity on the regulation of crypto assets, 82% of Indians plan to invest in cryptocurrency. Furthermore, the survey found that 77.4% of respondents want cryptocurrency to be treated as securities.
Fed to Release New Study on Risk and Promise of Stablecoins
The federal reserve has released a new research report on stablecoins. Researchers are studying the current ecosystem and how expansion may affect the stability of US monetary policy. The report advocates for a two-tiered approach to preserve stability, which would have issuers rely on commercial banks for reserves rather than banking their tokens solely with Fed deposits.
President of El Salvador Expects Bitcoin to Experience a 'Gigantic Price Increase'
Salvadoran President Nayib Bukele has argued on social media that Bitcoin will see a "gigantic price increase" in the future as more affluent individuals move to buy the flagship cryptocurrency, and its limited supply forces them to bid. Bukele, in a tweet shared with more than 3,5 million followers, noted that there are more than 50 million millionaires in the world. At the same time, the supply of the flagship cryptocurrency is limited to 21 million coins.
IMF Urges El Salvador to Remove Bitcoin As Legal Tender
El Salvador's Finance Minister, Alejandro Zelaya, has responded to recent requests from the International Monetary Fund. The IMF, in a publication last Tuesday, called on El Salvador to downgrade the legal status of the cryptocurrency within the country. Nayib Bukele predicted a "giant price increase" for Bitcoin in a related news story.
CoinShares Launches Polkadot ETP
CoinShares, a digital asset investment company, has announced the launch of a new physically supported exchange-traded product (ETP) for Polkadot (DOT).
Deutsche Börse Sees 922% Increase in Demand for Crypto Products from Investors
Deutsche Börse, the leading German stock exchange operator, noted that cryptocurrency exchange-traded products (ETPs) had been quite attractive options for investors over the past year. The company outlined that the average monthly trading turnover in crypto ETNs surged to more than $1 billion, or +922% than in 2020 ($115 million).
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