The cryptocurrency market continues recovering
The cryptocurrency market continues to recover after a significant fall. Yesterday the Bitcoin’s price showed a trend of stable growth. Today it reached $11 349 but after a market rollback went down to $10 782. The Etherium’s price fluctuated yesterday, but today it costs $944.
Bitcoin’s price yesterday became the highest one in February. The growth of the cryptocurrency can be explained by several factors.
Firstly, seasonality. The growth of the cryptocurrency in February is a common case.
Secondly, this is affected by the statement of South Korea about the intention to allow the work of cryptocurrency exchanges, which became excellent news for investors who feared a complete ban on digital money trading in this country.
Thirdly, it was positively influenced by the statement of the US regulators. They said about the necessity of a balanced regulation of the cryptocurrency market and protection of investors. Now the US is actively discussing new legislation on taxation of the cryptocurrency, which actually could equate them with other assets.
Saudi Arabia's money transfer agency, which in fact plays role of the Central Bank, said it had signed a partnership agreement with Ripple, which would allow banking institutions to use XCurrent technology for more productive payment systems.
The most facts let assume that most cryptocurrencies’ price will continue to grow in the beginning of the next week. The Bitcoin’s price will reach minimum $11 000, the Ethereum’s price - $950-990.
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