Cryptocurrency trading forecast for today April 13
The price of Bitcoin rose to the level of $60100. Ethereum strengthened to the level of 2140 USD, and the price of XRP reached $1.39. The total capitalization of the cryptocurrency market has increased to $2.07 trillion.
The US government is stepping up its surveillance of China's plans to issue a state-owned cryptocurrency over concerns that the digital yuan could undermine the dollar's dominance in the global market. According to Bloomberg, the administration of US President Joe Biden and some officials are concerned that the launch of the digital yuan could serve as a trigger for a long-term attempt to overthrow the Dollar from its position as the world's dominant reserve currency. Officials will step up surveillance of the development of the digital yuan and how it is distributed, as well as the use of China's state-owned cryptocurrency to circumvent trade sanctions. The People's Bank of China could become the first major central bank to issue a state-owned cryptocurrency, giving an advantage that U.S. officials are also starting to worry about.
Galaxy Digital has applied to launch a Bitcoin-based fund. According to the document, the listing of the financial instrument is planned on the New York Stock Exchange. The share price of the Bitcoin ETF will be calculated based on the Bloomberg Galaxy Bitcoin Index. The company did not specify who will provide services for storing digital assets. About a dozen companies have already filed applications to launch a bitcoin ETF with the US Securities and Exchange Commission. In March 2021, the SEC began reviewing the appeal from VanEck, and in April-from WisdomTree. In February, Canada registered the first bitcoin ETF in North America. According to expectations, the US regulator will approve the first similar project this year.
In the forecast, I assume a rise in the price of Bitcoin to $61,000. Ethereum will rise to $2180, and XRP - to $1.45.