Bloomberg analyst points out Trump administration for uptrend in Bitcoin
Bloomberg analyst Mike McGlone attributed the rise in Bitcoin and crypto coins to US Dollar’s weakness and management problems.
In the crypto money market, the New Year’s celebrations started early. Crypto coins have gained considerable value over the past few days. Bitcoin , which was traded at $ 3,200 a few days ago , climbed over $ 4,200.
There were much larger increases in other leading crypto coins such as Ether and XRP. For example, in the last two weeks, Ether has risen from $ 82 to $ 156. The XRP, especially in Binance, was listed as a base currency, which saw a rapid rise.
Mike McGlone, a Bloomberg Intelligence analyst, said, old The market was too oversold and the leap is so. The entire crypto money market is benefiting from the weak US dollar and management problems. Undan
McGlone refers to the closure of the US federal government when talking about management issues. A few days ago, the US government partially and temporarily closed down as a result of a budget crisis due to the financing of the wall built on the Mexican border. While this partial government closure entered its fourth day as of today, the US dollar also lost value against other currencies.
On the other hand, Mati Greenspan, senior market analyst of eToro, said,, Ether was one of the biggest blows when the prices of crypto money fell, so it was one of the biggest winners after the prices started to rise again.