King cryptocurrency The unit reached and exceeded the $ 98,400 level again after 8 days and 12 hours. cryptocurrency The nightmare that investors have been experiencing for days may now end. So what is the main reason for this rise? What awaits investors?
Why Is Bitcoin Rising?
First of all, considering that we are in an upward trend, this return should have started anyway. It is difficult to talk about a definitive upward break yet because we saw an intermediate rise 8 days ago. However, thereafter, it dropped again to $92,000. 17 days and 3 hours BTC price It is experiencing the decline that started after ATH.
Uptrends should not have such long periods of weakness. While altcoins suffered huge losses during this 17-day period, the losses have not been compensated even today. On the other hand, the fact that the ISM PMI data was supportive for the markets and that investors started to remember the date of Trump’s inauguration on January 20 supported the increase.
While the USA will have its first cryptocurrency-friendly president, prices should not remain low. It is hoped that Trump will support the rise with the steps he will take. At the time of writing, the daily peak had reached $98,444.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
