Crypto's new bull run
The cryptocurrency market appears to be entering a new phase of growth. This is evidenced by the recent spike in the price of Bitcoin, which has gained around 8% in just 24 hours, surpassing the $73,000 mark.
According to analyst Owen Lau, this trend has good prospects for continuation. "We believe this run has legs," he stated.
Lau links the recovery of the cryptocurrency market to two key factors: the new cryptocurrency policy being pursued by former US President Donald Trump, and the growing interest in this market from large institutional investors.
Impact of Trump and institutional investors
Recently, Trump has been actively advocating for the creation of new regulations for stablecoins in the US. This suggests that cryptocurrencies are becoming an increasingly prominent phenomenon in the global economy, and policymakers are starting to pay close attention to them.
Moreover, more and more large institutional players, such as hedge funds, pension funds and other investors with multi-billion dollar assets, are entering the market. Their influx indicates that cryptocurrencies are now perceived not as a speculative instrument, but as a full-fledged asset for diversifying investment portfolios.
Thus, we can say that the cryptocurrency market is entering a new phase of maturity and institutionalization. If these trends continue, further growth in cryptocurrency prices is quite likely in the near future.