Market Update – Bitcoin Adds $1,500 in One Day
The cryptocurrency developed by Satoshi Nakamoto as well as 98 coins of CoinMartketCap’s ranking of the 100 largest cryptos are increasing.
As far as BTC is concerned, the asset has risen 4.49% during the last 24 hours and is now trading at $38,905.72, about $1,500 above yesterday’s price.
We started the day with positive news coming from Google, which has lifted the ban on cryptocurrency-related advertisements on the latest update of its policy. Notably, all ads about crypto exchanges and wallets are now allowed as long as certain requirements are met.
Another piece of news that might also be behind the market’s current rally is the one about the British regulator FCA extending until March 2022 the temporary registration that allows crypto companies to continue their operations while they wait regulatory approval.
In short, today there has not been any news about hacks or actions taken by regulators to tighten the regulation of the sector. This, together with the positive news about Google and the FCA, has created a perfect scenario for growth, but, how long will it last?
The BTC dominance index remains unchanged since yesterday at 41.6%, while the total capitalization of the market amounts to $1,765,337,672,092, while BTC’s stands at $733,492,002,359.
Tomorrow is the last day of the current workweek, and as we know, retail investors are usually more active in the market at the weekend, so there might be some price movements then.