Virtual currencies are all in the green! Miners surrendered, Germany’s sell-off ended, and good news followed!
Since the early morning of the weekend, the virtual currency market seemed to be pushed by a mysterious force, and it has fully opened the skyrocketing mode. Bitcoin broke through the $60,000 mark, and Ethereum, Tether, and Dogecoin followed closely, soaring. At this time, the Saudi stock market also joined in the fun, opening strongly, adding fuel to the craze.
Why is the market suddenly so "high"? The reasons are quite complicated, but let's pick out the key points.
First of all, Brother Trump used to support Bitcoin on social media, saying that this thing is good and supporting its appearance in geopolitics. He also said that anyone who dares to stop the development of Bitcoin would help competitors. As soon as this was said, market confidence rose sharply.
Looking at the new party platform of the Republican Party, it is clear that it supports cryptocurrency, saying that it will end the suppression, prohibit the central bank from developing digital currency, and protect the freedom of mining and trading. This political support has given the cryptocurrency market a reassurance.
In addition, miners have had a hard time recently, and many have surrendered and stopped mining. But this is actually a good thing. If they stop selling, the market pressure will be reduced, and the price of Bitcoin will rebound easily.
There is also good news from the German government. They have ended the large-scale selling of Bitcoin, and now the market is more stable. Bitcoin can hold up in the big sell-off, and its strength is great.
Let’s talk about those "big whales". They have hoarded a lot of Bitcoin recently. The more they buy, the higher the price will be. Once these big guys take action, the market will follow.
The global Bitcoin ETFs in Hong Kong, Australia, and the United States are all very popular, and investors are rushing to buy them. With the arrival of institutional funds, the price of Bitcoin has become more confident.
In general, with political support, miners not mining, Germany not selling, whales hoarding, and ETFs in high demand, it is hard for the virtual currency market not to rise. In addition, the Saudi stock market has also joined in the fun, and the market is really getting more and more interesting.
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