Bitcoin (BTC) has once again excited its investors. Currently trading at $ 106,407.99 Bitcoin In the last 24 hours, it has reached very close to its All-Rage Prime $ 109,114.88 on January 20 with a gain of 1.20% on January 20. By the time the news is written, BTC’s market cap has reached $ 2.11 trillion. If we talk about 24 hours, then it was $ 104,206.52 and high $ 108,024.36. Thus, this news was only 2.45% below its Ath until the news was written.
Not only this, BTC has shown a huge increase of 218,806,829.94% so far in 2010 to the All-Sen low of $ 0.04865. In such a situation, investors of this token are hoping that soon you can cross this token and make new milestones. In such a situation, let us know the reasons that can lead to a rise in the price of BTC.
Business increased from institutional investment
The biggest reason behind Bitcoin’s recent boom is the rapid increase in institutional investment. Big companies such as microstrategy and Japan’s Metaplanet Inc. Has steadily increased its BTC holding.
Microstrategy bought thousands of BTCs in April and May, while Metaplanet made BTC a part of its balance sheet, indicating that the corporate world is now considering Bitcoin as future property. This growing corporate belief has also increased trust and enthusiasm in the minds of retail investors.
Global level increases at global level
Positive policies about Bitcoin are emerging in countries like America and Taiwan.
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The US government is working towards increasing its BTC Keep.
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It has been proposed to create Bitcoin Keep in Taiwan’s Parliament.
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At the same time, China, which had previously banned BTC mining, is now considering a plan to resume it by looking at the crypto-friendly American policies.
All these steps Bitcoin Value On positive effects.
Regulation expected in India
In India too, there is a new hope about the Crypto sector. The Supreme Court has directed the Central Government to formulate a concrete policy regarding crypto regulation. Where the Supreme Court has questioned the government that, the Government of India takes tax on crypto but why it does not bring it under the purview of regulation. If Crypto gets official recognition in India, it will not only be a good sign for domestic investors, but can also make the Indian market an important crypto hub for global investors.
Conclusion
Bitcoin has reached its all-age Prime price very close to $ 109,114.88. Existing global and domestic phenomena, institutional investment, policy support and increasing confidence of users are all indicating that BTC may soon cross this milestone.
If this bullish sentiment continues in the market, BTC may set a new record in the coming few weeks. This can be a significant turn for investors, when Bitcoin not only breaks the old record, but created new history.
Also read:Will Republic of India come forward in Crypto Law, know the benefits
