Bitcoin fell below US$50,000 for the first time since March 5 last week. On Monday (26th), Bitcoin made a comeback, rising by more than 8%, reaching US$53,950, approaching the US$54,000 mark.
Last week, the currency circle worried that US President Biden might raise the capital gains tax on cryptocurrencies and other investments, and strengthened supervision, prompting the price of Bitcoin to drop to its lowest point since February this year, and the crypto market value of over $200 billion evaporated overnight.
The bulls who bought on dips swarmed in on Monday, and the currency circle rejoiced. Bitcoin returned to the 53,000 U.S. dollar mark, approaching the 54,000 U.S. dollar mark.
The enthusiasm of large institutions for cryptocurrencies remains unabated. These multi-head institutions believe that Bitcoin will become a diversified investment in their portfolios in the context of increasing inflation.
The latest news came out on Monday that JP Morgan Chase will issue an actively managed Bitcoin fund to private wealth clients, which will be launched as soon as this summer.
In early April, Goldman Sachs announced plans to launch Bitcoin investment services. In March of this year, JPMorgan Chase applied to the U.S. Securities and Exchange Commission (SEC) to launch a "cryptocurrency investment portfolio" for companies that focus on investing in cryptocurrencies.
With the help of institutional investors and companies such as Tesla, the market value of Bitcoin has increased by 80% so far this year, but compared with the recent historical high of $65,000, Bitcoin has fallen by about 17%.
Many officials from the US Treasury Secretary Janet Yellen, European Central Bank (ECB) President Christine Lagarde, Federal Reserve Chairman Bauer (Fed) and many other officials all issued bitcoin warnings.
Turkey banned the use of cryptocurrency payments on April 19th. Two cryptocurrency exchanges have been closed. The CEO of crypto exchange Thodex is suspected of absconding with funds, taking away US$2 billion in investor funds. Crypto regulation has become a market focus.
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The enthusiasm of large institutions for cryptocurrencies remains unabated. These multi-head institutions believe that Bitcoin will become a diversified investment in their portfolios in the context of increasing inflation.
The latest news came out on Monday that JP Morgan Chase will issue an actively managed Bitcoin fund to private wealth clients, which will be launched as soon as this summer.
In early April, Goldman Sachs announced plans to launch Bitcoin investment services. In March of this year, JPMorgan Chase applied to the U.S. Securities and Exchange Commission (SEC) to launch a "cryptocurrency investment portfolio" for companies that focus on investing in cryptocurrencies.
With the help of institutional investors and companies such as Tesla, the market value of Bitcoin has increased by 80% so far this year, but compared with the recent historical high of $65,000, Bitcoin has fallen by about 17%.
Many officials from the US Treasury Secretary Janet Yellen, European Central Bank (ECB) President Christine Lagarde, Federal Reserve Chairman Bauer (Fed) and many other officials all issued bitcoin warnings.
Turkey banned the use of cryptocurrency payments on April 19th. Two cryptocurrency exchanges have been closed. The CEO of crypto exchange Thodex is suspected of absconding with funds, taking away US$2 billion in investor funds. Crypto regulation has become a market focus.
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