Cryptocurrency has made a comeback after experiencing an extremely rough patch of downgrading the past few months. The bitcoin is said to be trading smoothly around $46,300 which is very encouraging for the trader community.
According to Coindesk, Bitcoin was priced higher than its rivals Dogecoin and Ethereum. The Ethereum trading rate was almost $3220 and Dogecoin experienced almost 26 percent per coin.
As the cryptocurrencies gain momentum and the market has started to flourish in an upward direction it is estimated that bitcoin will beat its last year’s second-quarter profits in the same tenure. It is expected that it will have almost 38% more profits in trading compared to last year.
After the announcement made by Gary Gensler; the chairperson of the U.S Securities and Exchange Commission (SEC), that congress should invent more security inputs to improve the policing and monitoring of the cryptocurrency trading and lending platforms across the country.
This is a very encouraging remake which means bitcoin and other cryptocurrencies are almost back in the game by winning the trust of such notable securities experts.
Coin base’s chief financial officer Alesia Haas claimed that they are closely watching the movement of U.S and are currently working on deriving a legal framework to satiate the concerns of the customers while making sure that cryptocurrency becomes easily available across the globe.
On the other hand, PayPal Holdings Inc. announced that they are planning to roll out a feature of allowing their credit cardholders to be able to buy cryptocurrencies with the cashback they earn through the purchases they make while using the PayPal platform.
PayPal holding will be bringing bitcoin, Litecoin, Bitcoin cash, and there on its platform. The customers will be given an option of “cashback to crypto” and no additional charges will be incurred by the customer on the transaction of purchasing cryptocurrencies.