Here’s some Top cryptocurrency news on November 1 from all throughout the month:
1. Bitcoin trading above $62,000
With a market cap of $1.1 trillion, Bitcoin is currently the best-performing currency in the world. Bitcoin trading above $62,000 is a story about the price of bitcoin and the investment opportunities it presents.
2. Rapid growth of crypto assets pose financial stability, challenges
Crypto assets have seen rapid growth in the last few years and this poses certain financial stability and challenges. The rapid expansion of these assets and their potential to bring about a global economic crisis is the reason why regulators are taking serious measures to monitor crypto exchanges, crypto platforms, ICOs as well as crypto wallets.
Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds, operating independently of a central bank. The rapid growth of the crypto ecosystem presents new opportunities.
3. China’s ban on Cryptocurrecy has some impact on the market
Since the ban, the market has been fluctuating and this has led to some confusion and uncertainty among cryptocurrency investors.
After the ban of crypto in China, they have started promoting their own official digital currency and press the growth of cryptocurrencies.
4. Bitcoin Eyes Fed Meeting After Biggest Monthly Price Gain Since December 2020
Bitcoin’s October rally appears to have put the cryptocurrency on a firm footing ahead of central bank meetings in the U.S., U.K., and Australia to assess the stickiness of inflation and determine policy response.
The top cryptocurrency rallied nearly 40% in October, hitting a fresh record high of $66,975 as investors cheered positive seasonality and the launch of futures-based bitcoin exchange-traded funds (ETFs) in the U.S. That was the biggest single-month percentage rally since December 2020, according to CoinDesk data.