Bitcoin ETFs Can Enhance the Reputation of Cryptocurrencies

Bitcoin ETFs Can Enhance the Reputation of Cryptocurrencies 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 discussed the benefits and concerns associated with the digital pound (Britcoin) proposal, emphasizing easy conversions and faster, secure cross-border transactions, but also addressing privacy, security, and development cost concerns.

“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

Additionally, Denisenko discussed the evolving fintech ecosystem in the U.K., focusing on innovation, government support, and regulatory compliance. He mentioned the growth of Revolut and the challenges in aligning operational capabilities with expansion.

Bitcoin successfully surpassed previous resistance levels, turning them into support levels this year. However, Bitcoin faces challenges breaking through the supply level of 31,035. The Parabolic SAR indicator indicates a tight contest at the resistance zone, suggesting a potential pullback to the previous resistance level of 28,500, offering support for possible further upward movement.

Bitcoin 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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