The queen of cryptocurrencies made 15% gains in the past seven days and is up more than 50% from its recent lows. In turn, it has been on the rise for four consecutive weeks and is on track for its second monthly advance. Its maximum was in mid-April, exceeding US $ 65,000 and analysts expect it to reach that value in August.
However, none of the negative news regarding cryptocurrencies, such as new tax burdens and increased regulation, seem to bother the bulls in the least. The US Senate gave the green light to the bipartisan $ 1 trillion infrastructure plan on Tuesday, which will now go to the House of Representatives and that includes the intention to tax cryptocurrency transactions, raising 28,000 million dollars in ten years.
But experts note that, far from being negative, this news indicates that crypto is highly regarded in Washington. At the moment, the price objective of the technical analysis is $ 60,000, according to José María Rodríguez, technical analyst at Bolsamanía. “But we cannot rule out even that it goes to the area of historical highs and beats them, activating a new signal of strength. And we already know how bitcoin is spending them every time it surpasses historical highs,” concludes the expert.