Bitcoin is gaining momentum in the past few days and is heading toward $50,000 as of midday last Friday. How are other top cryptocurrencies doing?
Bitcoin is getting closer to $50,000
Bitcoin is currently trading at $47,000, 5.3% higher than yesterday, and 15% higher than seven days ago.
ETH is also doing well on the exchanges with a price of 3320 USD for 1 ETH, which is 5.5% higher than yesterday and nearly 16% higher than last week.
The price of BNB is $434, which is 11% more than a week ago and 4.3% more than yesterday.
Analysts, including Piotr Ostapowicz, are not hiding their enthusiasm. He believes that the week has started off well.
A good start to the week, I wonder how those who are waiting for $20k feel.
DCA works best
– he wrote, pointing to the strategy of successively buying cryptocurrencies, regardless of the current prices of digital assets.
Why did bitcoin start growing? It is possible that the market simply decided that “it will not fall lower”. However, there are other factors.
Note that in the US, the process of regulating the cryptocurrency market has begun. Many experts note that things are moving in the right direction.
In turn, US Treasury Secretary Janet Yellen, who until recently had a rather negative opinion about BTC and altcoins, has now admitted that she sees how “significant role” cryptocurrencies play.
In turn, this year’s executive order of Joe Biden, which began the process of regulation, appreciated the growth of the cryptocurrency market over the past few years. It also explains how it can benefit the U.S. authorities and citizens of the country.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.