Bitcoin is the word that has revolutionised the financial industry in the modern world. Perhaps those who view it as merely digital money are unaware of its actual potential. Bitcoin has shocked everyone by surpassing its all-time high price. It surged above $1,18,000 on Thursday and even pushed through the $1,19,000 barrier on Friday. Later on, though, it levelled off around $1,18,780, but this surge once more demonstrated to the globe that the cryptocurrency era is not just a pipe dream but a reality.
The market ran before Crypto Week
This massive boom did not happen overnight. There are several complex political and economic factors at play, particularly the ‘Crypto Week’ that is beginning in America. Three such significant measures that may have a significant impact on how the cryptocurrency industry is regulated are scheduled to be addressed in the US Congress this week.
The GENIUS Act and Trump are backing
The GENIUS Act, which will enable private entities to issue stablecoins, is the most significant. It’s interesting to note that former US President Donald Trump has publicly endorsed this law, giving cryptocurrency enthusiasts optimism.
Expectation of unambiguous regulation
The “Digital Asset Market Clarity Act” and the “CBDC Anti-Surveillance State Act” are two bills that have the potential to significantly alter American crypto legislation. Companies that had previously fled the US because of unclear policies will benefit from this.
The downturn in the stock market served as support
In the midst of all of this, the US stock market is experiencing pressure from a recent trade and tariff spat. Investor anxiety has escalated as a result of President Trump’s tariff letter. People are using Bitcoin to withdraw funds from the conventional market in such circumstances.
Ethereum also picks up steam
Other digital currencies, such as Ethereum, are also rising quickly in value in addition to Bitcoin. For the first time since February, Ethereum has above $3,000, suggesting that the cryptocurrency market as a whole is going bullish again.
Aiming for $150,000
Option traders currently believe that Bitcoin can surpass the $1,50,000 barrier shortly due to the market’s current wave of bullishness. Clear regulations and government participation, according to experts, are strengthening this rally.
The start of a policy change
In addition to reviving investor confidence, Bitcoin’s movement has demonstrated the market’s potential strength with well-defined regulations and government backing. Crypto Week is the cornerstone of the digital economy’s future, not just a legal issue.
Disclaimer: This article is written for informational purposes only. Always increase your knowledge and consult a financial advisor before investing in cryptocurrency. Market fluctuations are natural, and investments are subject to risk.