"Do investors think BTC is going to be bullish again? Or is the price now going to level off first?"
After a long time, the price of the cryptocurrency king Bitcoin (BTC) has finally managed to climb up to $30,000 as some traditional financial players (TradFi) are reportedly getting more interested in the digital asset.
Among the giants of TradFi is BlackRock followed by Invesco and WisdomTree who also filed an application for spot BTC ETF while the crypto exchange EDX was launched on Tuesday this week.
In context, EDX supported by Fidelity Digital Assets, Charles Schwab and Citadel Securities will offer four tokens in the United States (US) namely BTC, Ethereum (ETH), BTC Cash (BCH) including Litecoin (LTC).
There is no denying that the number of BlackRock or Fidelity customers who are interested in spot BTC ETFs is very small, but it was enough to push the price of the digital asset up yesterday.
According to Leo Mizuhara, the Chief Executive Officer (CEO) of Hashnote, China and the US, which started to loosen their monetary policies, are also able to strengthen the price of BTC, however, he does not want to make predictions but the momentum is very positive for the long term.
While during the monetary policy hearing, Federal Reserve (Fed) Chairman Jerome Powell who insisted that they see stablecoins as a form of money was also one of the reasons why the price of BTC broke through more than $30,000.
Commenting Powell again, the Fed does not intend to directly issue a Central Bank Digital Currency (CBDC) in the US, adding that it would be a big mistake to allow a lot of private money creation at the state level.
As of this writing, BTC price has surged by 4.99% to $30,199 in the last 24 hours with a market capitalization of $586 billion and is up 20.09% over the last week.
