Cryptocurrencies are recording gains with the beginning of the European session’s trading session today, Tuesday, October 5, to extend its gains since the end of last week, as Bitcoin, the most expensive digital currency in the world, rises by more than 18% in the last seven trading sessions and is close to recovering the levels of 50 thousand dollars for the first time since the seventh From last September when it was legally adopted in El Salvador.

The market value of digital currencies combined, according to the Coingecko website, which includes more than 9,519 thousand, of which Bitcoin represents about 41% of the digital currency, rose to 2.25 trillion dollars, an increase of 2.3% today, Tuesday.

Bitcoin and cryptocurrencies are receiving support from the United States of America, where the Securities and Exchange Commission is expected to approve the first Bitcoin ETF in the next two weeks (October 18), according to some analysts, which gives confidence among traders.

US Federal Reserve Chairman Jerome Powell had denied any intention of the Fed to ban cryptocurrencies in his testimony before the House of Representatives last week and stressed that it would not follow the example of China in his response to a Republican representative and that he preferred that the cryptocurrency market, especially stable ones, be regulated, as is the case with money market funds .

Bitcoin is trading at levels of 49,500 thousand dollars, an increase of about 3.39%, and a market value of 932 billion dollars, only 500 dollars away from recovering the levels of 50 thousand dollars.

Ethereum is the second largest digital currency in the world in terms of market value, rising by about 0.50% at the beginning of the session today, Tuesday, and it is trading at levels of 3.392 thousand dollars, with an increase in its market value to 399 billion dollars, and increases by about 16.83% in the last seven trading sessions.

Cardano, the fourth largest digital currency, is trading at levels of $2.22, an increase of about 1.20%, and an increase in the market value to $71 billion, while the Dogecoin rises by about 10.62%, and it is trading at levels of 0.2379, and an increase in the market value to $31 billion.

Ripple XRP records gains, in turn, by about 1.45%, and is trading at levels of $1.05, with a market value of $49 billion. From 24% in the last seven trading sessions.