Cryptocurrencies continue to grow amid a decline in tensions around tariffs
The news that the U.S. Supreme Court has ruled former President Donald Trump's increased tariffs illegal has actually turned out to be positive for the cryptocurrency market. Despite the predicted consequences for the global economy, Bitcoin and leading altcoins have shown growth at the end of last week.
According to CoinDesk, the Bitcoin exchange rate approached the $68,000 mark, which was facilitated by an increase in the quotes of many alternative cryptocurrencies. The leaders of the growth were Ethereum, Cardano and Solana, gaining 3% to 6% in a day.
The reduction in geopolitical tensions associated with trade wars has had a positive impact on the sentiment of crypto investors. They expect that now regulators will pay more attention to the development of the industry, rather than focus on counteracting protectionist measures.
Experts from our publication believe that in the coming weeks, the Bitcoin exchange rate has a chance to consolidate above the psychologically important mark of $70,000. Drivers of growth can be both traditional factors - the influx of institutional investments and the growth in the number of retail buyers, as well as news about the legalization of cryptocurrencies in various jurisdictions.