Cryptocurrency: Bitcoin Rebounds To US$ 19,445, 'Might Double In Price': Analyst

Cryptocurrency markets are recovering marginally after major fall last week. Today, on September 29, at 4.55 pm UTC, Bitcoin surged by 0.26% intra day trading, and was quoted at US$ 19,445.10. Yesterday, Bitcoin closed at US$ 19,395. However, Bitcoin, in the last 5 days gained by 2.76%. In the past 1 month, it has dropped by 4.10%. Additionally, in the last 6 months, Bitcoin plunged by 59.02%.

On the other hand, other cryptocurrencies have also surged today. Ethereum was quoted at US$ 1,337.43, up by 0.12%. Yesterday, Ethereum closed at US$ 1,335.83. Litecoin was quoted at US$ 53.46, up by 0.34%, Dogecoin was quoted at US$ 0.0607 up by 0.70%, and Cardano was quoted at US$ 0.4376 up 0.61% today, till last traded.

Bitcoin Might Double In Price

On the contrary, Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam recently stated, that Bitcoin, the largest crypto might "double in price" if it traded in a CFTC-regulated market, Decrypt reported. Behnam said that the crypto industry had "a massive opportunity for institutional inflows that will only occur if there's a regulatory structure." He added, "Non-bank (crypto) institutions thrive on regulation, they thrive on regulatory certainty, they thrive on a level playing field...because they are the smartest, the fastest and the most well-resourced." Additionally, he thinks, "The wave of regulation heading for crypto might not be a bad thing, though," Decrypt mentioned.

Meanwhile, the US stock markets again falls into the bear zone. S&P 500 was down by 2.35%, stood at 3,631.53 points, and Nasdaq Composite was down by 3.19%, stood at 10,698.67, at the time of writing today. The US Dollar index quoted at 112.34 today, falling by 0.23%.