The world of digital currencies began the new week with a historical record. Bitcoin, the leader of the market, was able to cross $ 122,000 in Monday in the Asian markets and record a new price ceiling. This price jump, which reached the $ 122,490 record, reflects the increasing optimism that has been formed among investors, especially organizational actors.
One of the main factors that led to this dramatic growth was the increased desire of large companies and institutions to invest in Bitcoin. For example, the Japanese company Metaplanet, which operates in the field of hotel, announced that it has purchased 797 other bitcoin assets to 16,352 units. This purchase transforms Metropolitan into the fifth largest Bitcoin corporate Holder in the world. In addition, Bitcoin’s ETF tradable funds in the United States have received unprecedented welcome, and asset management giants such as Blackle and Fidelity are constantly increasing their digital currency reserves.
Regulatory developments have also played an important role in strengthening this ascending trend. In the United States, market participants are waiting for an event called “Crypto Week”. This week, the US House of Representatives is scheduled to review several key bills such as Genius Act and Clarity Act, which, if approved, can create clear legal frameworks for stubbles and the entire digital asset ecosystem.
In a surprise news from China, an important regulator in Shanghai held a meeting to justify local authorities on the policies of the Stibelcoins. The session could be a sign of the change of China’s approach, a country where the Ramsar trade is forbidden. However, analysts warn that despite the positive outlook, fluctuations are still an integral part of the market, and the recent price correction has led to the $ 208 million in the past 24 hours.
Source: Forbes
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