Current currency markets rose after US President Donald Trump announced a potential strategic encryption reserve, but analysts warn that the gathering may be short -lived.
On March 2, Trump said that his work group on digital assets was directed to three altcoins – XRP (XRP), Solana (Sol) and Cardano’s Ada (ADA) – in the American Crypto Reserve.
This announcement led to a recovery at the market level, as the maximum global Crypto market increased by 7 % to $ 3.04 trillion, while Bitcoin (BTC) violated the 95,000 dollar psychological brand after combining 7.7 %.
source: Donald Trump
However, the gathering may be temporary due to the long approval process required to create a US encryption reserve, according to Aurelie Barthere, the main research analyst at Blockchain Analytics Nansen:
“I think the formation of a reserve by buying new symbols is a complex process that will need to vote, so it will take some time. I will be somewhat careful not to sustain the movement today.”
Some analysts expect the imminent market bottom after the active Bitcoin headlines have reached the highest level in three months on February 28, indicating that the market in a “decisive turning point” may indicate “the moment of surrender”, according to the platform of the Intothheblock intelligence.
Related: Related: Solana has decreased by 45 % since the Trump Tokeen launch while Memecoins has converted liquidity
Analysts warn of short -term fluctuations
ADA, Sol and XRP surpassed the market based on Trump’s announcement of its inclusion in the American strategic reserve.
ADA, Sol, XRP, one -day graph. Source: Cointelegraph
However, the bullish trend of the Crypto market may be limited and claim significant fluctuations in the short term, according to Nikolai Sondargard, research analyst in Nansen.
Tell the Cointelegraph analyst:
As Aurelli is mentioned, it is likely that it is not easy and I expect fluctuation in these symbols today, especially (seen already in Ada touches nearly $ 1.17 and is now sitting at $ 0.94). “
“Regardless of the period in which these gains will continue, it is positive for a moment for the market, but the question about the future will be in the event of its fruits. If not, it is possible that it will be a negative news point for encryption.”
Related to: Ronaldinho launches a 35 % code from the inside, reaches $ 397 million in the market
However, Crypto investors continue to look forward to other developments in the industry as potential stimuli, including the first White House encryption summit, which President Trump is to be hosted in March. 7.
Although there are no additional details about the agenda of the summit, the organization and legislation of Stablecoin related to a potential strategic encryption reserve at the forefront of organizational discussions in the United States.
https://www.youtube.com/watch?
magazine: SCB Tips 500K BTC, SEC Delay ETHE ETF options, and more: Hodler’s Digest, February 23 – 1 March
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