00:00 After the amount of Bitcoin trading has reached its lowest level since August 4, will the court in Colombia agree to establish an ETF fund for Bitcoin trading at the immediate prices of encrypted currencies and the conversion of the metrics?
00:19 The Court of Appeal in Colombia has today appealed to the Grayscale Foundation against SEC, which is the US Securities and Exchange Commission, to agree to establish an investment fund for Bitcoin trading at the immediate prices and not at the current prices.
00:41 This step could hamper the crypto market, which has been under great pressure from the US Securities and Exchange Commission this year.
00:52 If we notice that August was the worst month for the Bitcoin currency, the biggest day-to-day transaction of this currency, after the amount of trading of this currency exceeded one million in previous years.
01:08 If we notice that on August 12, the amount of trading of Bitcoin was about 112,000.
01:19 The reasons behind the increase in the amount of trading of this currency were the departure of the shareholder of this market due to the crisis of banks, and specifically the collapse of the Silvergate Bank, which was a bank that lent encrypted currencies to investors.
01:34 This reduced the confidence of investors in trading, and also the SEC campaign that we talked about against the encryption platforms and exchanges, including Binance and Coinbase, and also the latest news that talked about the sale of SpaceX, which is worth $ 373 million of Bitcoin.
01:53 We have been looking at the performance of this currency since the beginning of the year, and we notice that it has increased by about 55%.
02:00 We also remember today that the crisis of banks, which was the last of them, the collapse of the Silicon Valley Bank in the United States, was also positively affected by the market of encrypted currencies,
02:10 because there was a surge in liquidity in this market, of course, with the lending of loans to investors, and this was positively reflected in the performance of the encrypted currency market and the Bitcoin currency in particular.
02:22 And finally, we should point out that the market value of the encrypted currency market today is more than a trillion dollars, after it had been reduced to less than a trillion dollars due to the crises that we talked about.
02:36 Therefore, the question remains, is the adoption of the step of creating a Bitcoin exchange box with instant prices really going to be prevented from the new market of encrypted currencies?
