The price of Bitcoin showed a very rapid rise today at noon and rose by about $ 4000 to $ 48,000. What is the reason for this rise in Bitcoin?
Bitcoin, the most powerful name in the crypto money world, rose from $ 44,000 to $ 48,000 at noon today, making a huge rise and delighting its investors. Of course, this rise in BTC will continue to make the altcoin world happy.
With this sudden rise in Bitcoin, investors who took short positions, that is, investors waiting for Bitcoin’s decline, liquidated about 270 million dollars.
What is the Reason for This Rise in Bitcoin?
Of course, one of the most important reasons for this price increase was the news that the country of El Salvador started to produce Bitcoin with its Bitcoin farm. The country of El Salvador started mining Bitcoin using volcanic energy and managed to extract 0.0059 BTC in these trials, creating a positive atmosphere in the first place.
FED Chairman Powell officially announced that they will not ban stable coins yesterday, and the panic atmosphere in the markets decreased. After the FED’s statement, it saw 44,000 levels.
On the other hand, in some shares on Twitter, the news that large institutional purchases in Bitcoin would increase was spread. After these speculations, individuals began to attack Bitcoin. On the other hand, he thought that the approval of the Bitcoin ETF had a positive effect on the prices.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.