Almost 1 month after this resistance failed, the price of Bitcoin (BTC) is back at the $30,000 level as the entire cryptocurrency market turns green. How to explain this increase? We take stock.
Bitcoin (BTC) back to $30,000
That’s it, just a few days after hitting the symbolic $25,000 mark, The price of bitcoin (BTC) is back above $30,000. Here’s the first for over a month:
🔴 FLASH: The #Bitcoin just crossed the $30,000 mark again! 🔥
Less than a week ago, the #BTC was $25,000. pic.twitter.com/D8hafendyI
—Cryptoast (@CryptoastMedia) June 21, 2023
After a meteoric rise since the beginning of 2023, the cryptocurrency market benefited from the month of May and the adage “sell in may and go away” to breathe a little. Back to $25,000 late last week, some observers were not enthusiastic about a bullish recovery in Bitcoin before the end of the summer.
But as you know, Bitcoin doesn’t care about predictability. Despite a very complex endogenous contextspurred by multiple attacks by the Securities and Exchange Commission (SEC) against Binance and Coinbase, theThe cryptocurrency market is doing very well.
How can we explain it? To begin with, this evening was marked by a speech from the President of the Federal Reserve of America. Before the Financial Affairs Committee of the House of Representatives and questioned the monetary policy of the United States, ie. Jerome Powell Speaks Out About Cryptocurrency. He would have explained that “Crypto-currencies as an asset class have shown resilience”.
This rise is probably more likely to come from the recent announcement by BlackRock, the world’s largest asset manager. Indeed, the firm filed request to launch spot Bitcoin ETF. If accepted by the US regulator, it would be the first of its kind.
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