Today Bitcoin Skyrockets to $42,000 and Other Altcoins Also Followed Bitcoin. More than $130 Billion Market Cap Increased Overnight.
From few weeks the whole cryptocurrency market was declining and now finally Bitcoin and other altcoins is showing some strength and recovering some losses. All this happened when BTC crossed $42K mark overnight.
Why Bitcoin Price Soars to $42,000?
According to news reports a press release has been leaked on the US Treasury Department’s website. This press release revealed some of the information about the United States president Joe Biden’s executive and administrative order on cryptocurrencies.
Reports also said the president Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. His approach will support all responsible crypto innovations that could result in substantial of businesses, consumers and the whole nation.
After this news the Bitcoin price has increased more than 8% and crossed $42K. Other altcoins also showed green on heatmap.