New York (dpa -Afx) – Bitcoin came under a lot of pressure during the day after its record hunting. After an increase to more than $ 123,000, he went into a descent and only stopped less than $ 119,000. Most recently, the course of the oldest and best known cryptocurrency on Monday was just under $ 120,000.
Expert Timo Emden from Emden Research sees the first signs of overheating on the market after the record. In view of ambitious courses, it is anything but surprising that the rally stalls. However, the expert sees the fact that profit from a larger style failed to do so as a sign of a persistent risk appetite of investors.
The US government’s “Crypto Week” “Crypto Week” can now decide on the well-being and woe. The US Congress wants to advise and coordinate about three legislation that should create a positive environment for cryptocurrencies. According to Emden, the loosening of the regulatory thumb screws for the US crypto industry should primarily strengthen the attractiveness of the United States as a location and promote innovations in the long term. But the advance laurels already distributed in advance would now have to come true. There are justified doubts that all teething problems have been remedied according to the “Crypto Week”. In addition, too strongly reducing regulatory hurdles mountains the risk of creating an uncontrolled market environment.
Analyst Rachael Lucas from the BTC Markets trading platform does not want to rule out short -term profit from Bitcoin. However, it also referred to a comparatively strong demand for stock market-traded Bitcoin funds (Exchange Traded Funds). These are likely to support the upward movement at Bitcoin, said Lucas.
The Bitcoin broke out of a comparatively narrow trading range with the current course jump. After the cryptocurrency had risen sharply in the course of Trump re-election to the US President, its course had kept in $ 100,000 since May.
Trump is considered a sponsor of cryptocurrencies. Since his election success last November, the value of the bitcoin has been around three quarters.