Bitcoin and most Altcoins rose this week, as the former rose to more than $ 110,000 for the first time in weeks. He jumped with more than 50 % of its lowest level in April this year.
This jump has raised more gains between Altcoins such as Fartcoin, AAVE, Dogwifhat and UISWAP. As a result, the market value of all metal currencies jumped to more than $ 3.4 trillion, while a volume of 24 hours increased by 38 % to $ 130 billion. Let’s explore the first three causes in which Bitcoin and Altcoins rise.
SEC Crypto is a round table
The first main reason for the high prices of Bitcoin and other encryption prices is that the Securities and Stock Exchange Committee (SEC) held the first table dedicated to decentralization (Defi) that includes the largest players in this industry.
In a statement, Paul Atkins indicated that SEC supported industry and the role of self -need. Gary Ginsler, the former Grainsler regime, has also criticized the lawsuit against companies such as UISWAP, Kaken, Coinbase and IMMUTABLE.
Analysts believe that Atkins will continue to support industry, including submitting fewer lawsuits and approval of investment funds circulating on encryption currencies such as XRP, Polkadot, Stellar, Hedra Hashgraph and Tron.
SEC Paul Atkins announces that Defi platforms will be exempted from organizational restrictions. He also stated that “the right to obtain self -property is a basic American value that should not disappear when logging into the Internet.”
The United States and China trade talks
Bitcoin and other Altoins rises due to the ongoing trade talks between the United States and China in London. The two sides try to reduce tensions that were continuing for a while.
Media reports indicate that China will likely to be shipped to ship ground materials to the United States for access to semiconductors. There are also signs that the two countries will work to solve the issues suspended in trade.
Bitcoin, Altcoins and other assets such as stocks work well when there is little tension in the financial market.
Trump and Eileon Musk are a possible truce
Bitcoin and Altcoins rises due to the potential truce between Elon Musk and Donald Trump. According to USa Toys, Musk tries to return to Trump’s good grace on X.
Analysts believe that Musk has a lot to lose if the dispute persists since it was Spacex, his company, one of the best government contractors in the United States. As such, Trump may start canceling some projects if the dispute persists.
In an interview with NBC, Trump said he had no desire to reconcile with Musk. However, the common phrase is that Trump always comes out (Taco), which means that it may open the door again to musk.
Bitcoin and Altcoins may be good for Tramcoins because Trump and musk are common in the encryption community.
Bitcoin price has upscale technologies
Another reason behind the height of Bitcoin and Altcoins is that the former has strong techniques that may push it up in the long run.
As the graph above shows, the distinctive symbol has remained higher than that of 50 days and 100 days (EMA), a sign of bulls.
Bitcoin also formed a cup style and standing. I have completed the cup section and is now about to complete the handle. This cup is 30 % deep, which means that the potential target of the currency is about 142,000 dollars. This step is likely to lead to more gains between Altcoins.
The post why Bitcoin and other encryption prices rise today? First appeared on Invezz
