Bitcoin price: Low afternoon
Early this morning (October 23), Bitcoin - the world's largest cryptocurrency in terms of market value suddenly appreciated, down slightly by 0.5%, reaching 108,271.96 USD.
This new price contributes to bringing market capitalization to 2,158 billion USD, down 108 billion USD. In the same direction, trading volume in the 24-hour reversal increased, currently at 104.22 billion USD, down 28.14 billion USD.
Assessment and forecast
Federal Reserve Governor Christopher Waller said that cryptocurrency has become a part of the payment and financial system, marking a remarkable change in the agency's management perspective.
This assessment was made in the context of accelerating acceptance of cryptocurrency at the institutional level, and the market capitalization of Bitcoin has reached the point of making its anonymous founder among the richest individuals in the world.
Waller's speech marks a turning point compared to the cautious stance that US regulators have long maintained towards digital assets.
Previously, the FED often approached cryptocurrency with skepticism, due to concerns about strong volatility, illegal financial risks and consumer protection. However, the Fed Governor's description of cryptocurrency as being included in the financial system's structure shows recognition of the growing role of this sector.
In fact, many major financial institutions have already provided cryptocurrency storage, trading and investment services, showing the increasingly deep integration of digital assets into the traditional financial market.
In Vietnam, Bitcoin and other cryptocurrencies are not recognized as a legal means of payment. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
