Bitcoin is trading again at almost $7.500. Although bitcoin is still down by more than 40 percent, it did rise quickly in just an hour. Bitcoin owners are holding on to their coins believing that the price will go even higher. Others, however, are trying to buy low and sell high.
The FOMO for bitcoin is again pretty strong. This makes huge shifts in the action of trading. Countries are now being friendlier to cryptocurrencies and are willing to join the crypto market. Even Japan that is meant to be the stricter country for cryptocurrencies opened the doors for crypto traders there.
When discussing what spiked the event for bitcoin to go up, that has to be Blackrock. Blackrock is considering entering the crypto world. Bigger institutions are also announcing that they are opening up to cryptocurrencies. Blackrock however, didn’t really answer to the rumors after the initial report, but, it makes a lot of sense that the world’s biggest asset manager would try joining the crypto world. Another thing that is worth mentioning is the House of Committee on Agriculture and Financial Policy Subcommittee both are considering taking cryptocurrencies seriously as they do with real money.
The current situation on the market seems very positive with a lot of bullish signs. This has spiked the FOMO among investors. But, Marc Lasry, predicted the current bitcoin price and believes that it can reach up to $40.000 as it becomes mainstream. He said ‘’As it gets more into the mainstream, and as more markets end up allowing it to trade where it’s freely tradable, to me that’s more of them be. The reason why I like bitcoin is, that it’s the one everybody is going to come to”.
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