The bitcoin currency is trying to break the top formed during the trading session yesterday, Sunday, which is stationed at 62800, in the middle of the trading session today, Monday, by trading at levels of 61 thousand dollars, an increase of about 0.05%, and a market value estimated at 1 trillion and 150 billion dollars.

The past and centered at 64,884 thousand dollars, will the most expensive currency in the world manage to surpass the top, or will it fail the first time? The rise of Bitcoin, which exceeded 50% since the beginning of October, came with anticipation in the markets and investors in the cryptocurrency market to list the first ETF in the Bitcoin exchange and the approval of the Securities and Exchange Commission (SEC) and its Chairman Gary Gensler, which will enhance the volumes of cryptocurrency trading.

Today, Monday, October 18th, is the last day to object to the listing of the ProShares Fund, and therefore in the event of no objection or intervention from the SEC today, it is expected that trading will start tomorrow, Tuesday, so that the first ETF will be approved by the Securities Commission.

Among the fund that have applied for approval, VanEck Bitcoin Trust, ProShares, Invesco, Valkyrie, and many funds have reached 30 applications, which are awaiting approval with a difference in the date.

Today’s approval of the ProSHares Fund is considered paving the way to accept many applications in the coming period, and thus the entry of more liquidity from Investors, individuals and institutions in the digital currency market.

According to the rules and laws used in investment funds, the Securities and Exchange Commission does not have to give explicit approval to ETFs 75 days after their submission if the regulators have no objection during this period, and accordingly, the 75-day period submitted by ProShares Fund will expire today, Monday, and attention will be monitored for any News from the United States of America during the session today, Monday.

The reaction of the cryptocurrency markets and the bitcoin currency It is not excluded that some profit-taking operations will continue today, Monday, until tomorrow, Tuesday, upon the official approval, after we witnessed a 50% rise in bitcoin since the beginning of October, as we mentioned, and accordingly, a profit-taking process may not be excluded from these prices. Before returning to break the top levels formed in April (it is not a recommendation to sell or buy and expresses the point of view of market research).