08/09/2021 7:41 AM
Clarín.com
Economy
Updated 08/09/2021 7:41 AM
Bitcoin, the most famous virtual currency, rises 0.87% and remains above US $ 45,119, while its pair, Ether, rose as much as 3.5% to US $ 3,191.
Those values,
takes cryptocurrencies to their highest values in almost three months.
Cryptocurrencies rise after the update of the Ethereum blockchain, the network through which Ether runs, and despite the uncertainty about the regulations that the United States government is evaluating imposing on cryptocurrencies.
This Monday, Bitcoin rose 0.87%, after registering a rise of more than 3% on Sunday and when it reached US $ 45,328, its highest level since May 18, while Ether rose to 3.5 % to $ 3,191, gaining for the fifth day amid the Ethereum network upgrade in London, which slows the pace of growth in coins.
Bitcoin price
"The state of optimism appears to have returned to the cryptocurrency markets.
Bitcoin leads the charge as Ethereum continues to make gains," said Paolo Ardoino, chief technology officer at Bitfinex, in dialogue with Bloomberg.
Still, he said,
"the turbulence we have seen in crypto markets in recent weeks is unlikely to subside."
Cryptocurrencies are regaining ground
after retreating significantly from all-time highs in recent months
, a setback attributed to concerns about China's crackdown on Bitcoin miners and questions that businessman Elon Musk raised about using energy to validate the cryptocurrencies. cryptocurrency transactions.
Specifically, since
BTC pierced the US $ 30,000 barrier on July 20, a bullish rally began that has led it to gain more than 50%
in value since then, while ETH had an even more explosive behavior when passing from US. $ 1,700 that same day to almost $ 3,200 this morning, a rise of more than 80% in just 20 days.
One factor that continues to create uncertainty is the infrastructure bill that the United States government
introduced to Congress and that, among its amendments, addresses the idea of reporting for crypto transactions greater than $ 10,000 and the collection of taxes.
So far this hasn't stopped the momentum for cryptocurrencies, whose market value has rebounded to around $ 1.88 trillion from a mid-June low of nearly $ 1.2 trillion, according to CoinGecko.com.
However,
expectations in the market point to a pullback of both crypto in the short term although some believe that this could be the start of another bull cycle
, similar to the one that led the crypto market to exceed US $ 2.5 trillion at mid-May last.
YN