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Tuesday, September 21, 2021

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Bitcoin jumps 9% and returns to $ 43,000, its highest price since May

Bitcoin is up 48% in 2021, but with wide volatility.
Bitcoin is up 48% in 2021, but with wide volatility.

The price of Bitcoin It surpassed the barrier of USD 40,000 and marks its maximum in almost four months, after difficult weeks in which the sales of the main cryptocurrency increased and that even erased all the gains of 2021.

Bitcoin touched this Friday UDS 43,000, with a daily jump of 9%, at its highest price since May 17 of this year. On April 7 the Bitcoin touched $ 65,000 for the first time in their short history, but since then they have embarked on a strong selling trend that took them to a $ 29,000 floor in June.

Cryptocurrency analysts agree that a short-term bullish factor occurs in the possible regulation of the United States government, which would improve the scenario for an extension of the acceptance of virtual currencies, with greater protection for small investors.

The president of the US Securities and Exchange Commission, Gary Gensler, noted that his deep interest in the subject does not mean that I am sympathetic to the hands-off supervisory approach that many enthusiasts would like to see. Officials have struggled with how to respond to the 1.6 trillion dollar market, mostly unregulated, which has seen explosive growth and wild price swings.

A stricter regulation for crypto trading would equalize these securities with other traditional ones with which it competes for investor interest.

Gensler is contemplating a robust supervisory regime, focused on establishing safeguards for millions of investors who have been storing their wallets with tokens.

“Although I am neutral in technology, even intrigued, I spent three years teaching it, leaning on it, I am not neutral on investor protection, ”Gensler said. “If anyone wants to speculate, that is their choice, but we have a role as a nation to protect those investors against fraud“Added the powerful head of the US SEC, in statements reproduced by Bloomberg.

The renewed momentum of Bitcoin also has to do with a eventual adoption by large corporations such as Amazon and Google, which could accept the asset as payment for products. This will cause a snowball effect in which some will react to the news and others to the sudden upward trend in price.

Anyway, you have to be cautious with the volatility of cryptocurrency prices, when historically, Bitcoin forms these maximum bubbles, which are known as blow-off tops, in which the value explodes only to be followed by a sharp decline.

“In general, it usually takes hours to days, definitely not months. So I I would expect a day or two of very strong euphoria, where you could see a very rapid surge and then, right after, a very abrupt fall “, commented the influencer Adrian Zduńczyk calls himself a technical market analyst and is the founder of The Birb Nest, a community of trading by subscription.


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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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