The total capitalization of the cryptocurrency market is now $ 3.81 trillion. Air, the second coin in the cryptocurrency rating, also demonstrated an increase of above $ 3000. Many altcoins were in the Green Zone, including SUI, which increased by 12.5% per day to $ 3.84, and SOL, which rose to $ 166.
The growth of institutional investors contributes to growth, but also a favorable regulatory environment for cryptocurrencies in the United States. The lawmakers of the House of Representatives of the US Congress plan to consider three important bills related to cryptocurrencies on the transparency of the digital asset market (Clarity), on the regulation of steablecoins (Genius), as well as a bill against the use of digital currencies of central banks (CBDC).
The legislators of both parties – republican and democratic – along with the administration of Donald Trump, support the idea of creating more clear rules for supervision of cryptocurrencies. If these bills are adopted, they can fundamentally change the regulation of crypto acts in the United States, which should positively affect the market, so crypto traders are optimistic.
General Director 10X Research Markus Thielen (Markus Thielen) notedthat investors’ hopes about the bull rally crypto are heated by US plans for the creation of a sovereign welfare fund, which will include different cryptocurrencies. Tilen added that over the past six to eight weeks, the influx of funds from large investors in exchange funds (ETF) on Bitcoin amounted to $ 15 billion. According to its forecast, at the end of the year, Bitcoin will be traded in the range of $ 140,000–160,000. However, there is a risk that the US Federal Reserve (Fed) will continue hard politics and will increase the interest rates due duties for imports.
At the same time, the CEO of the XAPO Bank Sheimus Rockc (Seamus Rocc) is not sure of the rainbow prospects of Bitcoin: he expects that after reaching new records, bitcoin can fall below $ 110,000. Recently, a detailed material about the causes of cryptor -further growth and its further prospects have been released on Bits.media.
Source: Bits
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