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Bitcoin On Wednesday, it increased to a new level of all time, taking his January record.
The price of the flagship cryptocurrency was the last higher by 2% to 108,955.10 USD, according to Metrics. Earlier, it increased by even USD 109,500.
“The new level of Bitcoin was invented by a number of positive ingredients in macro clumps, namely more softer inflation numbers in the USA, de-escalation in the war in the US-China trade and a decrease in mood about the state debt, which found light on alternative stores with values such as Bitcoin, said Bitcoin,” Bitcoin said.
Bitcoin hits a new record on Wednesday
“We entered the alternative universe very different from the beginning of April, when macro's global fears were at the top and Bitcoin fell to USD 74,000,” he added. “It is possible that a three -month window has opened so that the risk assets have developed because a wider agreement between the USA and China is developed.”
The price of Bitcoin is constantly climbing in May, so far by 16% this month. Cumulative revenues to ETF tracking the price of Bitcoins exceeded $ 40 billion last week in May only two days of drainage saw.
Data in the chain also show lower sales pressure, as indicated in the Bitcoin impact on stock exchanges and increased liquidity on the cryptocurrency market, measured by new records of the quantity of Tether Stablecoin USDTAccording to Cryptochant, the liquidity indicator of the cryptographic market, sitting on the stock exchanges.
Investors expected upcoming catalysts, including government activities and regulatory progress, as well as corporate tax investments, in order to increase the prices of higher bitcoins, according to Steven Lubka, the head of private clients and family offices at Swan Bitcoin. He added that taking into account the current market conditions, now is the best moment of the risk prize for Bitcoins in the last eight years.
Senate at the beginning of this week voted in favor of legislative progress This would create the first regulatory framework in the US for Stablecouins, a key cryptographic market sector. President Donald Trump said he wants to see the regulation of cryptocurrencies on his desk and ready to sign until August before the congress is during the break.
Also this month, Coinbase joined the S&P 500 stock index, which Wall Street has Praised as a break from a breakthrough For the cryptographic industry.