Bitcoin rose to the highest level ever on Wednesday, overcoming the unprecedented level in January, with an improvement in appetite in the risk continued after a wave of sale in the cryptocurrency last month due to American commercial policy.
The price of the most encrypted currency in the world reached 109 thousand and 767 dollars, before it declined to 108 thousand and 128 dollars in the latest transactions.
Height factors
“He contributed to achieving Bitcoin the highest level of a set of positive factors, most notably the decrease in American inflation numbers, the calm of the trade war between the United States and China, and the lowering of Moody’s sovereign debt, highlighting alternatives to storing value such as Bitcoin,” said Anthony Trinchive.
He added: “We entered a world completely different from early April, when the global macroeconomic fears reached its climax, and the price of Bitcoin decreased to 74 thousand dollars.”
He added: “It is possible that there will be a 3 -month opportunity for the prosperity of dangerous assets, with a broader agreement between the United States and China.”
After declining for several weeks amid a state of uncertainty about customs duties, the Bitcoin price rose steadily in May, recording 13% during the month.
The flows entering the circulating investment funds that follow the Bitcoin price were $ 40 billion last week, and only two days of flows in May witnessed, according to Sosovalio.
The coded currency benefited from liquidity in the stock market, which strengthened dangerous assets, as well as the recent risk scenarios associated with concerns about customs duties and deficit in the United States, which prompted gold and bitcoin gains.
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Future motivations
Investors expect the upcoming stimuli, including organizational updates and corporate investments in treasury bonds, will lead to high bitcoin prices.
Since the beginning of the year, the number of Bitcoin coins kept by public companies increased by 31% to about 349 billion dollars, according to Bitcoin Trigres, and this represents 15% of the total supply of Bitcoin.
Earlier, the Senate voted on a draft law that creates the first organizational framework in the United States, which is a major sector in the encrypted currency market.
President Donald Trump stated that he wanted to see the organization of encrypted currencies ready to sign up by August before the Congress vacation. Also this month, Queen Piece joined the Standard & Poor’s 500 index, which Wall Street praised as a milestone for the coded currency industry.
