America approves Bitcoin ETF, bumper jump in prices in 2024
America has made a big decision regarding cryptocurrency. US regulatory has approved exchange-traded funds. Investors investing in Bitcoin ETF are going to benefit greatly from this. This step can prove to be a big milestone for the American financial market. Through this, the way has been opened for Bitcoin, the most traded cryptocurrency in the world, to reach more investors.
According to economic experts, this decision is going to prove to be a big game changer for the cryptocurrency market. After the introduction of Bitcoin ETF by the US regulator, there has been a rise in the shares of Bitcoin in the stock market. According to the current trend, Bitcoin is trending above 49000.
At the same time, Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank will not follow others on cryptocurrency rules and that “what is good for other markets is not necessarily good for us.” His statement comes after the Securities and Exchange Commission approved changes to allow the creation of a Bitcoin exchange-traded fund in the US.
On cryptocurrency regulations, Das said, “What is good for other markets is not necessarily good for us. Therefore, our views, that of the Reserve Bank and that of me personally remain the same,” Das said at the BFSI summit organized by Mint Publications. When asked whether he considered the upcoming Vote on Account to increase inflation, he said that considering the record of the present government, he did not think that the interim budget would increase inflation. The Governor also mentioned several supply-side measures taken by the government to curb price rises since the beginning of the Russia-Ukraine war. Also, read this.
[…] Madhavi Arora, the chief economist at MK Global Financial Services, said the core retail inflation rate is expected to decline further to 3.77 percent in December 2023 but there is a need to keep an eye on food prices. He said, “We estimate that in the financial year 2024-25, retail inflation will be around 5.2 percent (estimated 5.37 percent in the current financial year) and the core inflation rate will come down to around 4 percent (estimated 4.42 percent in the current financial year).” ”The Reserve Bank has estimated CPI inflation rate to be 5.4 percent in the current financial year. Also, read this. […]
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