September is always an interesting month in the world of cryptocurrencies, and this year was no exception. In this article, we will discuss some of the most important crypto events that took place in September 2021.El Salvador adopts Bitcoin as legal tenderOn September 7, El Salvador became the first country in the world to adopt Bitcoin as legal tender. The move was highly controversial, with many critics questioning the practicality and potential risks of such a move. However, the government of El Salvador insisted that it was a necessary step to promote financial inclusion and reduce reliance on the US dollar.The announcement sparked a lot of interest in the crypto community, with many speculating on the potential impact on the price of Bitcoin. However, the initial reaction was muted, with Bitcoin actually dropping in price after the announcement.China cracks down on crypto againChina has always had a love-hate relationship with cryptocurrencies, and September saw yet another crackdown on the industry. On September 24, China’s central bank issued a statement announcing that all cryptocurrency-related transactions were illegal and that all crypto exchanges and other related businesses must be shut down.The move sent shockwaves through the crypto world, with many investors fearing that it could lead to a global crackdown on cryptocurrencies. However, it is important to note that China has been cracking down on crypto for years, and it remains to be seen whether other countries will follow suit.Bitcoin hits $50,000Despite the mixed reactions to the adoption of Bitcoin in El Salvador, the price of Bitcoin continued to climb throughout September, reaching $50,000 on September 3. This was a significant milestone for the cryptocurrency, as it had not reached this level since May.The rise in the price of Bitcoin was attributed to a number of factors, including increased institutional interest and renewed optimism about the potential of cryptocurrencies to disrupt traditional financial systems.Ethereum reaches all-time highWhile Bitcoin may have been grabbing all the headlines in September, Ethereum was quietly making its own waves. On September 2, Ethereum reached an all-time high of $4,356, driven in part by the growing popularity of decentralized finance (DeFi) applications built on the Ethereum blockchain.The surge in the price of Ethereum also fueled speculation about the potential for Ethereum to overtake Bitcoin as the dominant cryptocurrency in the market.SEC delays decision on Bitcoin ETFIn a move that disappointed many in the crypto community, the US Securities and Exchange Commission (SEC) delayed its decision on whether to approve a Bitcoin exchange-traded fund (ETF) until November.While some had hoped that the SEC would finally approve a Bitcoin ETF, others were not surprised by the decision, given the regulatory hurdles and concerns around market manipulation that have prevented the approval of a Bitcoin ETF in the past.In conclusion, September was a month of ups and downs for the crypto world. While the adoption of Bitcoin in El Salvador and the continued rise in the price of Bitcoin and Ethereum were positive developments, the crackdown on crypto in China and the delay in the approval of a Bitcoin ETF served as a reminder of the regulatory and market risks that continue to plague the industry. Nonetheless, as the crypto market continues to evolve and mature, it is likely that we will see many more exciting developments and events in the months and years to come.
Main crypto events of September
