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HomeEthereum‘Opening The Floodgates’—Crypto Braced For A $10 Trillion Earthquake As The Price...

‘Opening The Floodgates’—Crypto Braced For A $10 Trillion Earthquake As The Price Of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Swing

Bitcoin, Ethereum and other major cryptocurrencies are struggling to maintain momentum after gaining momentum through July.

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After dropping about 70% from its all-time high, Bitcoin’s price started to rise last month but has since stalled. Traders are waiting for the Federal Reserve bomb When “A 100-pound gorilla is getting closer by the day.” Other Top 10 Coins Ethereum, BNB Prices
Solana, Cardano and Dogecoin are also struggling.

BlackRock, currently the world’s largest asset manager with $10 trillion in assets under management, has partnered with leading cryptocurrency exchange Coinbase to provide institutional investors with access to Bitcoin.

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“This is a major milestone for the cryptocurrency industry and BlackRock’s
“BlackRock is opening the floodgates for institutional investors to access Bitcoin,” Marcus Sotiriou, an analyst at digital asset broker Global Block, said in an email.

Coinbase, widely recognized as one of the world’s largest cryptocurrency platforms, announced this week that it will connect to Aladdin, BlackRock’s investment technology platform that processed $21.6 trillion worth of assets in 2020. May be added later.

“Our institutional investors are increasingly interested in gaining exposure to the digital asset market and these It focuses on how to efficiently manage the operational lifecycle of assets in

BlackRock entered the world of Bitcoin and cryptocurrencies after Chairman Larry Fink called Bitcoin a “money laundering indicator” in 2017.

“I think this could be seen as a green light for other funds to enter the crypto space,” said Sotiriou, noting that almost a quarter of fund managers expect to invest in crypto in the next two years. It pointed to reports that it expects to increase its exposure to related assets. Year.

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The news sparked a wave of Bitcoin price predictions, with investors claiming exposure to BlackRock could push the price back to an all-time high of around $70,000 per Bitcoin.

In an emailed comment, Nigel Green, CEO of asset manager deVere Group, said: “By the end of the year, we expect to see Bit We expect the coin to hit new all-time highs.” “I wouldn’t be surprised if he hits $70,000 over $68,000 in November 2021.”

“As the infrastructure for institutional investors to bet on digital assets grows, so will their involvement in this market,” said Mikkel Morch, executive director of digital asset investment fund AR K36, in an email. Added: at this point. “

Bitcoin’s price crashed this year as the U.S. Federal Reserve (Fed) battled rapid inflation by ushering in an era of historic rate hikes and a massive pandemic. Cryptocurrencies such as Ethereum, BNB, XRP, Solana, Cardano and Dogecoin have crashed. Stimulus.


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