Even though China has opposed the crypto industry and caused crypto prices to “bleed” some time ago, the phenomena didn’t last long.
On this day, one of the crypto assets, bitcoin, raised US $ 55,000 or 800 million rupiahs. Even though it hasn’t touched the all-time high price above $60,000 last April, this news is quite good considering the recent red market events. Then, what caused the price of crypto to go up in the past few days?
- Twitter supports the transfer feature with the Lightning network. For those of you who want to know more detailed information, you can read it here.
- SEC chairman Gary Gensler last week at the Financial Times conference reaffirmed his support for funds traded on Bitcoin exchange platforms to invest in futures contracts. Most likely, a new product will appear called the Bitcoin ETF.
- In his remarks to Congress, the United States Federal Reserve chairman, Jerome Powell, said it had no intention of banning all cryptocurrencies.
- The announcement from the Swiss financial regulator approved cryptocurrency investments in the country. The interesting side is that Switzerland has the most extensive banking sector globally and accounts for around 25% of global asset management, so this will be an opportunity for investors to attract crypto assets.
- Market sentiment triggered by news of a hedge fund controlled by billionaire investor George Soros that is also trading Bitcoin.
So, those are why bitcoin prices have “to the moon” moment in the last few days. Some of the sentiments that affect the price of bitcoin include the law of supply and demand, mass media coverage, the small volume of Bitcoin, and each individual’s psychological factors.
Do you think our government will allow securities and banks to become markets for buying and selling crypto in a few years? Please write your opinion in the comments section below.
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