Crypto funds could reach $650 billion in assets with BlackRock ETF approval Alliance Bernstein reports that forthcoming bitcoin ETF approvals, among other trends, will drive crypto asset management to new heights within five years. The next five years might see up to $650 billion managed by the crypto fund management industry, according to a new research report released this week from broker Bernstein, which believes the arrival of spot bitcoin exchange-traded funds (ETFs) will play a pivotal role in increasing the size of the crypto fund management market. The report outlines how the digital assets industry will balloon from managing $50 billion of assets to as much as $650 billion, making it a significant player in the financial industry. Right now, the global crypto market capitalization sits at $1.08 trillion, but crypto has traditionally been treated as separate from the traditional banking and financial services industries. As it reaches mainstream adoption, it is expected that the amount of money channeled into crypto will explode, rivaling that of other sectors of the economy.  Although spot bitcoin exchange-traded funds (ETFs), which track the price of bitcoin, have not been approved yet, they are growing in popularity, as retail investors eye the potential investment vehicle as a way to acquire exposure to the volatile digital assets industry without directly owning seemingly risky assets. The participation of mainstream investors and companies will likely catalyze mainstream adoption, and the U.S. Securities and Exchange Commission (SEC) is currently reviewing multiple applications for ETFs. With deadlines looming, Bernstein predicts that the crypto industry may have an approval at any point between October 2023 and March 2024. #ETH #crypto2023 #cryptonews #Binance #DeFiChallenge

Bitcoin is the most expensive virtual currency in the world. Science and Technology Desk: Bitcoin is the world's first open-source cryptocurrency or digital currency. One bitcoin is worth about 36 lakhs in Bangladeshi currency. Its price fluctuates daily. Bitcoin transactions do not require any institution or organization. Bitcoin is an online currency system currency. This currency system is also called cryptocurrency. It cannot be seen or touched. It is created online and consumed online, digitally. Bitcoin is completely controlled by us, it is not controlled by any organization or individual. The Bitcoin network is a peer-to-peer network that operates through a cryptographic protocol. Users use bitcoin cryptocurrency wallet software and exchange bitcoins digitally via encrypted messaging. Transactions are recorded in a distributed, replicated public database known as a blockchain, and consensus is achieved in a proof-of-work protocol system called mining. Currently Bitcoin is very popular online. Bitcoin designer Satoshi Nakamoto claims that the design and coding of Bitcoin began in 2007. The project was released as open source software in 2009. Apart from Bitcoin, there are some virtual currencies like Litecoin, Ethereum, Ripple all over the world. Global transactions in these currencies are increasing. Even though trading in these currencies is illegal in Bangladesh, such currencies are being traded. Practically there is no difference between a normal paper and a note. But the value of a note starts from 2 taka to 1000 taka. Because there is a government behind it, there is a bank and there is an authority. They sit together and decide the value of a note. And we trust them and make this little piece of paper worth it. But it is completely different with Bitcoin. Bitcoin's value is not set by any government, nor is it or any bank. There is also no specific authority to regulate Bitcoin. #crypto2023 #Binance #bitcoin

What Makes Crypto Go Up and Down? Markets Explained What makes crypto go up and down? When will crypto go back up? Here’s a brief explanation of how crypto markets function. RELATED TOPICS Blockchain Cryptocurrency DeFi DEX Finance Market Insights Trading like any other goods people trade. Generally speaking, if the demand outpaces the supply, the value increases.  Most cryptocurrencies implement mechanisms to limit supply and prevent inflation. For instance, Bitcoin (BTC) is designed to have a fixed maximum supply (21 million BTC), after which mining more becomes impossible. Demand depends on the number of people investing in crypto. As interest in cryptocurrencies and crypto investments grows, so does the demand, driving the value up.  Similarly, if investors consider the investment too risky, they may pull out and reduce the demand, causing a drop in value. If you’ve ever asked yourself, “Why is the crypto market down this summer,” it is primarily due to external circumstances like gas prices and inflation causing investors to pull out. Crypto Market Perception The market perception of a product, asset, or service is the amount of value an individual assigns to it. Although not the same concept as market value, it is closely related; the higher one’s market perception, the more one is willing to pay for it. In other words, if you’re asking yourself, “Why is crypto going up,” it is because an increasing number of people have a positive market perception of it. A famous example occurred in November 2021, after the launch of the first Bitcoin exchange-traded fund. This event caused Bitcoin to reach its all-time high of $65,000. However, the inverse is also true. When crypto markets are going down, it is typically because specific coins have lost market perception due to negative events, such as bad publicity, unethical behavior from project leaders, or security breaches. Losing market perception reduces the demand for a cryptocurrency and drives its value down. #BTC #crypto2023 #DeFiChallenge

How the collapse of FTX dismantled public trust in bitcoin Bitcoin has the capabilities to help people escape financial hardship, but crypto scams often suggest the opposite. How the collapse of FTX dismantled public trust in bitcoin Bitcoin has the capabilities to help people escape financial hardship, but crypto scams often suggest the opposite. Sadly, nothing in the crypto ecosystem has gotten more mainstream attention that the historic demise of FTX, a cryptocurrency exchange found to be defrauding its customers of billions of dollars. The tumultuous events surrounding the implosion of FTX undoubtedly cast a shadow of doubt over cryptocurrency for most potential investors. Digging into the implications of this collapse in a recent discussion, Roundtable anchor Rob Nelson and David Zell, the co-founder of the Bitcoin Policy Institute, reflected on the setback that cryptocurrency experienced in the estimations of so many retail investors. How the collapse of FTX dismantled public trust in bitcoin Bitcoin has the capabilities to help people escape financial hardship, but crypto scams often suggest the opposite. ROB NELSON 16 HOURS AGO Sadly, nothing in the crypto ecosystem has gotten more mainstream attention that the historic demise of FTX, a cryptocurrency exchange found to be defrauding its customers of billions of dollars. The tumultuous events surrounding the implosion of FTX undoubtedly cast a shadow of doubt over cryptocurrency for most potential investors. Digging into the implications of this collapse in a recent discussion, Roundtable anchor Rob Nelson and David Zell, the co-founder of the Bitcoin Policy Institute, reflected on the setback that cryptocurrency experienced in the estimations of so many retail investors. “It’s difficult to overstate the extent to which those events inspired fear and trepidation,” Zell said. However, it isn't all bleak. Zell offered an optimistic take as well, suggesting that increasing economic instability. #crypto2023 #cryptonews