Bitcoin price: Interspersed increases and decreases
Early this morning (October 9), Bitcoin - the world's largest cryptocurrency by market value continued to increase, reaching 122,411.59 USD, up 0.45%.
The new price level contributed to the market capitalization reaching 2,439 billion USD, "turning around" to increase slightly by 15 billion USD. Over the past month, Bitcoin has seen an increase of 9,816.32 USD, equivalent to 8.72%.
Assessment and forecast
According to Reuters, cryptocurrency companies are racing to issue shares linked to traditional stocks, which has raised warnings from traditional financial firms and management experts. They warn that these rapidly developing new products could pose risks to investors and market stability.
Leveraging President Donald Trump's pro-cryptography stance and the government's efforts to create more-friendly regulations, the cryptocurrency industry is rushing to capitalise on the global excitement in the sector.
Industrialists believe that chungetized stocks - traditional chungetrics tracking blockchain-based tools that can revolutionize the stock market by enabling 24/7 trading and spot payments, increasing liquidity and reducing transaction costs. The combined value of exchange-traded stocks to retail investors increased significantly to 412 million USD in September, compared to only a few million USD 12 months ago.
However, according to Reuters' assessment based on the product and interviews with industry leaders and legal experts, many products are marketed like stocks but rarely provide the same rights, disclosure and protection as traditional stocks. This increases the risk risk for investors, and at the same time, accounting in general can weaken the integrity of the market and reduce liquidity if not closely monitored.
In Vietnam, Bitcoin and other cryptocurrencies have not been recognized as a legal payment method and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
