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Bitcoin has been crossing every overhead resistance with ease. A few months back, the question troubling analysts was where Bitcoin would bottom out, but now the analysts are wondering how long the recovery can last.
Noted Bitcoin bull Galaxy Digital CEO Michael Novogratz expects a new high within the next 18 months. VC investor Tim Draper is even more bullish as he anticipates Bitcoin to garner 5% of the entire market share of the world by 2023.
While companies are expanding their crypto operations to attract more customers, PayPal thinks it is too early to participate in the crypto sector, according to the firm’s CFO John Rainey. Facebook has taken advantage of this and has attracted a lot of talent from PayPal. According to sources, Facebook might launch its FB Coin in the third quarter of the year.
The United States Securities and Exchange Commission (SEC) is reviewing an application by Crescent Crypto Index Services for launching a portfolio of Bitcoin and Ether under the “XBET” ticker on the New York Stock Exchange. While the SEC has not cleared any exchange traded funds (ETFs) to date, they have exuded confidence that an ETF might get the green light in the future if it meets the proper requirements.
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