Mt.Gox, the earliest and most famous bitcoin trading platform, announced the closure of its website, and then the news of its bankruptcy was exposed, which immediately triggered a worldwide market panic. As a result, the bitcoin quotation was halved. Since then, the price of Bitcoin has fluctuated like a roller coaster. The price of bitcoin sometimes seems to be related to the current economic situation, and it changes under the influence of some news, but sometimes for no reason.
So what is the reason for this round of price increases? From an industry perspective, it is difficult to explain clearly, but it is probably because of the recent good international news.
First of all, the recent performance of bitcoin prices may be affected by stock market fluctuations. Us stocks lead the world. Last week, the three major US stock indexes Dow Jones, Standard & Poor's 500 and Nasdaq all hit record highs.
Second, a few days ago, the US Senate approved Representative Mick Malvani nominated by President Trump as the director of the White House Office of Management and Budget. It is worth noting that Mick Malvani was the first U.S. Congressman to receive donations from Bitcoin, and helped to set up the "Blockchain Caucus" to promote digital currency policy.
Third, the establishment of the first bitcoin exchange traded fund (ETF) was approved by the US financial regulator. Analysts believe that the approval of the establishment of the Bitcoin Exchange-traded Fund (ETF) will make the currency more attractive to the more cautious investor market.
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The post-bitcoin price hit a record high, or these three reasons led to the first appearance of high-definition information.