Bitcoin ETFs Can Enhance the Reputation of Cryptocurrencies, Says Brighty App Co-Founder

Bitcoin ETFs have the potential to enhance the reputation of cryptocurrencies, as highlighted by Nikolay Denisenko, co-founder, and CTO of Brighty App. Citing Blackrock CEO Larry Fink’s influence, Denisenko expressed optimism about Bitcoin ETF approval by the SEC. He believes that major players’ endorsement of Bitcoin ETFs could bring credibility and attract more investors to the crypto market.

Denisenko also addressed the benefits and concerns of the digital pound (Britcoin) proposal, emphasizing easy conversions and faster, secure cross-border transactions. However, privacy, security, and development cost concerns were acknowledged.

“The adoption of the #digital pound could change the balance of power when it comes to the world’s reserve currencies,” Nikolay Denisenko said. #reservecurrency #britcoin https://t.co/LxFdNQBwgP

— Bitcoin News (@BTCTN) July 16, 2023

Furthermore, Denisenko discussed the U.K.’s evolving fintech ecosystem, focusing on innovation, government support, and regulatory compliance. The growth of Revolut and challenges in aligning operational capabilities with expansion were also mentioned.

Key Bitcoin Levels to Watch

As for Bitcoin’s performance, it successfully surpassed previous resistance levels, now acting as support levels. However, Bitcoin faces challenges breaking through the supply level of 31,035. The Parabolic SAR indicator indicates a potential pullback to the previous resistance level of 28,500, offering support for further upward movement.

BTC Key Levels

Supply Levels: 31,050.0, 32,000.0, 36,000.0
Demand Levels: 28,500.0, 25,300.0, 20,400.0

Total Market Capitalization: $1.2T
BTC Market Capitalization: $585.0B
BTC Volume: $13B
Market Rank: #1

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