“This is an important signal because it indicates that it is becoming increasingly unlikely that regulators will decide to be tougher against the sector,” said economist Naeem Aslam.
Many traditional investors are turning to cryptocurrencies, and the big names on Wall Street like JP Morgan or BlackRock are now offering their clients niche funds.
And since October – October 2020, when the online payment giant Paypal announced the possibility of using cryptocurrencies on its network, the price of Bitcoin has risen dramatically after its price was developing at less than $ 15,000 and never exceeding $ 20,000.
However, financial expert Ipek Ozkardiskaya warned, “The risk of seeing the Bitcoin bubble burst still exists.”
The Bitcoin market became accustomed to sudden fluctuations, and in 2017, the virtual currency started the year with less than $ 1,000 before rising sharply, approaching the $ 20,000 threshold in December, before collapsing in 2018 to less than $ 4,000.