What happens to Bitcoin: the Beginning of a new trend or just another pullback before the fall?

What happens to Bitcoin: the Beginning of a new trend or just another pullback before the fall?

In the last 24 hours the Bitcoin has risen sharply in price, completely defeating the resistance at 6800 dollars, which many considered crucial for the bullish sentiment to return to the market.

The price of Bitcoin has grown significantly from 6 $ 650. USA to 7400 dollars for a half an hour. At the time of this writing, Bitcoin was trading at $ 7410. This is the biggest jump in prices on the digital asset in recent months.

It’s hard to say exactly what caused the sudden increase in the market capitalization of Bitcoin. However, the main cryptocurrency has gradually strengthened its position, despite the fact that the market remained pessimistic environment for investors.

In recent weeks, Bitcoin was fuelled by positive news from the Commission on securities and exchange Commission (SEC), which decided not to classify it as a valuable paper. Also revived hopes that the horizon will be here soon exchange-traded funds.

In addition, leading companies in the space are making unprecedented efforts to reach out to the class of institutional investors. Companies like Circle, Coinbase, and Blockchain, exploring the creation of a specialized service for high-performance investment.

Another interesting observation is that the volume of trading, it seems, is also now growing.

Another potential reason for the sudden interest in Bitcoin is that the former Chairman and CEO of Goldman Sachs, Lloyd Blankfein, is retiring. He will be succeeded by David and Solomon, known for his interest in Bitcoin and cryptocurrency industry in General.

Cryptocurrency chart gives hope for further growth. However, it is worth to wait for the results of the session of Congress that is taking place right now. The United States government is trying to develop optimal ways to integrate traditional token economy and to solve the existing problems. The decision of Congress will affect the value of crypto-currencies, so traders all over the world are waiting for the results of the meeting with bated breath.

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