image by MichaelWuensch
The price of Bitcoin in the last day has had a notable upward trend, this with the support of investors who have shown great optimism and has caused Bitcoin to shoot up to 35,000 USD, a price that it did not reach in recent years. 17 months, since the panic that* FTX **sowed in the market last year
This Monday, October 23, the price of Bitcoin had a rebound that went from 31,000 USD to more than 34,000 USD, which represents approximately 10%, and surpassed 35,000 USD on the same day and shortly after it had a small recoil.
Now the total capitalization of the Bitcoin cryptocurrency market exceeds 51%, in January of this year it was around 38%.
Possible reasons for this sudden increase are
- The rumor that the US Securities and Exchange Commission is going to approve a cash exchange-traded fund
- The legal battle between the SEC and the digital asset company Grayscale that ended this Monday.
- Blackrock's application for a Bitcoin ETF.
- The weakening of the dollar due to speculation around the Federal Reserve, although to a lesser extent.
- The impending Bicoin halvin is also an imminent bullish factor.*
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