The Bitcoin came under a lot of pressure during the day after its record hunting. After an increase to more than $ 123,000, he went into a descent and only stopped over $ 119,000. Most recently, the course of the oldest and best known cryptocurrency on Monday was just under $ 120,000.
Expert Timo Emden from Emden Research sees the first signs of overheating on the market after the record. In view of ambitious courses, it is anything but surprising that the rally stalls. However, the expert sees the fact that profit from a larger style failed to do so as a sign of a persistent risk appetite of investors.
The US government's “Crypto Week” “Crypto Week” can now decide on the well-being and woe. The US Congress wants to advise and coordinate about three legislation that should create a positive environment for cryptocurrencies. According to Emden, the loosening of the regulatory thumb screws for the US crypto industry should primarily strengthen the attractiveness of the United States as a location and promote innovations in the long term. But the advance laurels already distributed in advance would now have to come true. There are justified doubts that all teething problems have been resolved according to the “Crypto Week”. In addition, too strongly reducing regulatory hurdles mountains the risk of creating an uncontrolled market environment.
Analyst Rachael Lucas from the BTC Markets trading platform does not want to rule out short -term profit from Bitcoin. However, it also referred to a comparatively strong demand for Bitcoin ETFs traded. These are likely to support the upward movement at Bitcoin, said Lucas.
The Bitcoin broke out of a relatively tight trading range with the current course jump. After the cryptocurrency had risen sharply in the course of Trump re-election to the US President, its course had kept in $ 100,000 since May. Trump is considered a sponsor of cryptocurrencies. Since his election success last November, the value of the bitcine has increased by around three quarters.
The Bitcoin has started speed again. Even if there could be a first break after the record high, the massive tributaries in the ETFs should give further tailwind. The shareholder remains confident.
Contains material from dpa-AFX
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The board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, is directly and indirectly received positions on the subsequent financial instruments mentioned in the publication or this related derivatives that can benefit from the price development resulting from the publication: Bitcoin – United States dollar.
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