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Travel Companion facilitates business meet for over 400 delegates in Sgr

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A Kashmir-based travel company, Travel Companion, has successfully facilitated a business meet for over 400 business delegates from all over India.

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The event was held at SKICC in Srinagar, and was organized for Rex Remedies Pvt Ltd, one of India’s largest Hamdard companies.

The decision to hold the event in Srinagar was made after Travel Companion committed to make arrangements for the participants, which included flights for the delegates from 13 major states of India.

Burhan ul Haq, CEO of Travel Companion, spoke with the Asian News Hub (ANH) about the challenges faced by the company in persuading Rex Remedies to choose Srinagar instead of Dubai as the venue for their business meet.

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He also expressed his belief that Kashmir has the capacity to host huge corporate events for national and multinational companies.

During the event, Burhan interacted with the participants, informing them about the facilities offered in Kashmir with regards to leisure and corporate tourism.

The success of the event was acknowledged by Rex Remedies Pvt Ltd, who presented Burhan with a certificate of appreciation for his efforts.

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This event is a significant step towards promoting Kashmir as a destination for corporate events and tourism, and Travel Companion’s success in organizing the business meet will certainly open ways for other business corporates to organize such business meetings in Kashmir valley.

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Established as a pioneering news and media entity operating from the picturesque region of Srinagar, Jammu and Kashmir, Asian News Hub has forged its legacy by consistently providing an expansive array of news coverage, encompassing the multifaceted tapestry of regional, national, and global events. With an unwavering commitment to journalistic integrity, this esteemed platform remains dedicated to delivering comprehensive, insightful, and nuanced reporting that resonates with audiences, shedding light on diverse perspectives, socio-political dynamics, and cultural intricacies, thereby serving as a vital conduit of information for its readership.

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Bitcoin eyes $40K after breaching $38K for first time since May 2022

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The world’s largest cryptocurrency by market value, Bitcoin (BTC), rose to levels not seen since May 2022 on Friday, the day after the American Thanksgiving holiday, amid calm trading in traditional markets, CoinDesk reported.

The price of the cryptocurrency dropped to levels around $37,800 after momentarily touching $38,000 earlier on Friday morning. Now that it has remained over the $38,000 barrier for a few hours, Bitcoin looks like it is trying to move higher.

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The uptick in price comes as investors are expecting a possible approval from the U.S. Securities and Exchange Commission (SEC) on a spot bitcoin exchange-traded fund (ETF).

“With the BTC ETF lurking around the corner – which may be Jan .11 for the 14b1 consent (not s1 approval) there will be a new layer of volatility to the market,” Laurent Kssis was quoted as saying by CoinDesk.

“Due to the ease of trade and cost-effectiveness, a bitcoin ETF will attract more turnover in volumes from institutional investors currently not seen on crypto exchanges as they are not allowed to execute on these non-regulated exchanges by their compliance depts,” explained Kssis.

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Kssis predicts that bitcoin could rally to $40,000 over the weekend.

“When approved, the volatility of BTC will be significant during these periods which create additional risks for investors but as well opportunities for those arbitraging. Would not be surprised if we see 40K being broken this weekend,” Kssis said.

Ether (ETH), the second largest cryptocurrency by market value, also gained over 3% on Friday.

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MATIC soars 80% in one month

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MATIC has witnessed a notable price resurgence, surging from $0.503 to a high of $0.927 in the past month—an impressive 84% increase, ranking it among the top gainers on CoinMarketCap.

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IntoTheBlock reports a significant uptick in institutional and whale demand across the crypto sector. Notably, Polygon’s scaling solution experienced a 3,800% surge in large transactions (over $100,000) last month, contributing significantly to MATIC’s climb above $0.90 for the first time since May.

With a market cap of $8.2 billion, MATIC now holds the 13th position among cryptocurrencies. Despite this bullish trend, investors should exercise caution, considering the proximity to the July 13 wick levels, potentially indicating a formation of a double-top pattern on the daily chart, a signal of a possible trend reversal.

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Bitcoin likely to reclaim $40,000

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From an on-chain perspective, the bulls appear to be firmly in control of the Bitcoin markets in November so far. If the miners keep accumulating, the BTC price is like to reclaim the $40,000 in the weeks ahead.

The Global In/Out of the Money (GIOM) data, which groups the current BTC holders according to their entry prices, also confirms this bullish forecast.

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It shows that BTC must scale the $38,600 resistance for the bulls to be confident of flipping $40,000. As depicted below, 624,090 holders had bought 309,880 BTC at an average price of $38,612. If those holders sell early, they could slow down the rally significantly.

But if that resistance level caves, Bitcoin price will likely reclaim $40,000 as predicted.

On the downside, the bears could negate the optimistic prediction if the BTC price reverses below $33,000.

But, in that case, the 2 million BTC holders who bought 604,200 BTC at the minimum price of $33,900 will mount a support wall. If those investors can HODL, BTC price will likely defend the $34,000 territory and prevent a significant bearish reversal.

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