Bitcoin is rising again. It has broken not only the psychological barrier of $60,000, but also $62,000. Other leading cryptocurrencies are also gaining in price.
Bitcoin price is above $60,000
Bitcoin is rising again. All it took was news that the German government had sold all its bitcoins for the price to rebound.
Currently, one bitcoin is worth $62,750, which is an increase of almost 5% since yesterday. In 7 days, the price has increased by over 12%.
Ether has already risen to USD 3,340, which translates into an increase of nearly 5% in a day and 14% in a week.
This situation also shows how quickly market sentiment can change. Bitcoin’s fear and greed index went from extreme fear to “ordinary” fear and finally to indifference.
The Ethereum Fear and Greed Index is currently at 51, which also means neutral.
Why is the price of BTC rising again?
What are the reasons for the increases? The market simply decided that “it won’t go any lower.” In addition, the media reported that the German government had completed the sale of “its” BTC, which it had previously seized from an illegal platform with pirated movies. We are talking about both a psychological and a real effect – not too many coins that investors are unable to “swallow” reach the exchanges.
In the background, the return of bitcoins to former Mt. Gox creditors is also underway. The cryptocurrency exchange, which went bankrupt over a decade ago, has begun a long-delayed repayment of former customers. However, the process has not turned out to be as painful as many feared. Creditors are not “dumping” BTC returned to them after 10 years onto the markets.
Another pro-growth factor is… the assassination attempt on Donald Trump. Experts indicate that the failed attempt to shoot the US presidential candidate increases the chances of his victory in the November elections. The Republican promises to change the anti-cryptocurrency policy of the Joe Biden administration. Among other things, he wants to support the mining market.
