- The analyst says Bitcoin remains solid depending on the stock market.
- Bitcoin violated the symbolic barrier of $ 100,000 for the first time in December. Cryptos are increasingly increasing after American trade agreements with other countries.
Bitcoin has exceeded $ 100,000 for the first time since February, while investors’ appetite for risky assets increased after Great Britain and the United States have unveiled a trade agreement.
“Now that the United States seems more reasonable and conclude agreements with other countries, cryptocurrencies are increasing again,” said Stephane Ifrah, analyst at Crypto Platform Coinhouse.
Bitcoin crossed the symbolic threshold of $ 100,000 for the first time in December, reaching $ 109,241.11 on January 20, just hours before the inauguration of US President Donald Trump.
The republican chief promised to support cryptocurrencies during his campaign for a second term of the White House.
But a wave of American prices has unleashed on countries around the world has attenuated the financial markets, causing a wave of uncertainty.
Even if they were not directly concerned about Trump’s prices, cryptocurrencies have a reputation for volatility and investors quickly fled for more sure paradise like gold.
The sector has also been treated several blows in the midst of scandals such as the collapse of the cryptocurrency $ Balance, once supported by the Argentinian president Javier Milei.
The price collapsed after a handful of early investors decided to sell for a huge profit, causing colossal losses for the majority of those who bought $ balance.
He also led to the drop in prices for other cryptocurrencies, including Bitcoin.
Argentinian prosecutors would examine if Milei engaged in fraud or a criminal association, or in violation of his duties, when he praised the cryptocurrency of $ Balance on social networks in February.
Still in February, the Bybit of the Cryptocurrency exchange based in Dubai said that the hackers stole a value of $ 1.5 billion in digital assets in what marked the largest flight of cryptography in industry.
In early April, Bitcoin fell at $ 75,000.
“Bitcoin is solid depending on the stock market,” said Charlie Morris, analyst at Bytetree.
“The British trade agreement is a good reason to be optimistic because many other trade agreements are likely to follow.”
At the end of April, the British government published a bill aimed at regulating cryptocurrencies like Bitcoin and Ethereum, after the European Union presented its framework.