Ethereum price is trading in a positive zone above $1,850 support against the US Dollar. ETH could rally toward $2,000 if it stays above the $1,880 support.
The age-old commodity has emerged as a surprising ally for Bitcoin, the digital currency that was once regarded as a volatile investment gold. The connection between the alpha crypto and the valuable metal has consistently expanded, giving investors a place of refuge notwithstanding the continuous financial emergency and increasing loan fees.
Earlier in April, the National Commission of Value (CNV), Argentina’s securities regulator, approved a Bitcoin-based futures index on the Matba Rofex exchange set to debut in May. The derivative, settled in pesos, will enable accredited investors to gain exposure to the Bitcoin markets.In addition, a recent bill proposed by the Ministry of Economy asked citizens to declare their crypto holdings and incentivized them with tax benefits. Also, in December 2022, an Argentine province announced its intentions to issue a dollar-backed stablecoin.
BTC rose Tuesday afternoon as Alphabet and Microsoft first-quarter earnings surpassed expectations. Both equities and Treasury yields were down on Tuesday, however.
Standard Chartered says crypto winter has ended and the price of bitcoin could reach $100K per coin by the end of next year. The global bank’s analyst has identified several factors contributing to the surge in the price of the cryptocurrency, including the recent turmoil in the banking sector.
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