On February 14 the price of Bitcoin on the world’s major cryptocurrency exchanges resumed growth.
According to Coinmarketcap in the last 24 hours the Bitcoin has increased in price of 7.77% and is now trading at around $ 9 304. Does this mean that the dark times for the main cryptocurrency is over and traders the time to buy it for mid term investment?
Looks like Bitcoin is determined to exceed $10,000 and, it seems, I’d do it from day to day. However, the tension in the market is still evident, and the negative hypotheses about cryptocurrencies continue to run.
The catalyst for this growth was the statement by regulators of South Korea that they “ease up” against the cryptocurrency.
The South Korean government has signaled that it will allow cryptocurrency exchanges to operate in the country. Such news could not fail to please the traders, who greatly feared an outright ban on trade on one of the world’s largest markets for digital assets.
The policy will focus on how to make trade transparent cryptocurrency, but not to ban it — said Hong Nam-Ki, the Minister of the office for the coordination of government policy. It was the first coordinated government response to the public outcry caused by the proposal of the Ministry of justice to close the cryptocurrency exchanges.
The decline in volatility in the cryptocurrency market indicates that the market gradually go away with the speculators. It remains to wait for when regulators from different countries will ease the pressure and will begin the formation of the crypto industry as a legalized business.