February 15 saw a rise in bitcoin (BTC) to $44.5k during a warning over ‘exceptionally high’ stocks. This was an overnight success and one that would cause triumph for traders.
It has been said that BTC is in for a large increase as technical indicators have crypto experts around the globe predicting big things for the coin.
The steady rise of BTC at the beginning of February couldn't come at a better time after the abysmal start for the market in January.
The price of BTC has now risen by 0.81% in the past week, with a 4.28% increase in the last 24 hours. However, it has had highs and lows, it stands at £32.514.85 at the time of writing.
After the recent announcement that global asset manager BlackRock is preparing its clients for crypto trading, predictions are that BTC will rise back to its all-time high of £50,835.33 will catapult into never-been-seen-before levels. (If and when BlackRock announce the launch, there are currently no dates or details).
Billy Bambrough, Forbes commentator, described BlackRock's move into the crypto space as a “$10tn earthquake”, one that would cause a major disruption in record history.
It’s no secret that crypto is relentlessly pushing through every obstacle this February, the coin has come back with a vengeance.
Even Uber has its sights set on accepting crypto payments soon. The popular taxi app’s CEO Dara Khosrowshahi cemented the allegations, telling Bloomberg: “Is Uber going to accept crypto in the future? Absolutely, at some point.”
Furthermore, according to market commentators, The Canadian government’s recent announcement furthering its Anti-Money Laundering surveillance to now cover cryptocurrencies could also be a reason for the surge of the coin.
Chrystia Freeland, deputy prime minister of Canada, said at a press conference: “These changes cover all forms of transactions including digital assets and cryptocurrencies.”