On Thursday, bitcoin regained most of the positions lost on Wednesday, once again returning above the 60,000 mark.
The hashrate of the bitcoin network has recovered after the ban on mining in China, due to which it fell by 50% this year. According to recent estimates, the hashrate of the network returned to the level of May, just before China outlawed the bitcoin mining industry. “There were only 6 days in history when the hashrate was higher than today,” said Charles Edwards, founder of the investment company Capriole.
The New York Stock Exchange continues listing bitcoin-related ETFs
Volt Equity has become another company that has introduced such a product on the stock exchange. The Crypto Industry Revolution and Tech ETF from Volt Equity debuted on NYSE Arca on Thursday. This ETF is traded under the ticker BTCR. The Volt Equity ETF, approved by the U.S. Securities and Exchange Commission in early October, is not a pure bitcoin ETF, as it is based on companies that are largely associated with bitcoin.
At the same time, the media reported that the Securities and Exchange Commission will reject Valkyrie’s application to launch an ETF with leverage, since it does not want to approve any ETFs other than Bitcoin futures ETFs. The investment company Valkyrie has applied to launch an ETF for bitcoin futures with a leverage of 1.25x.
The government of El Salvador, the country that made bitcoin legal tender along with the dollar, bought the main cryptocurrency again after the correction. The government of El Salvador has acquired 1,120 bitcoins worth more than $ 68 million.
According to technical analysis, in case of consolidation above the level of 62450, an increase to 63700 is likely, followed by a historical maximum of 67000. In case of a return below 60,000, a decrease to 58300 is likely.