On May 22, Bitcoin continued its growth, setting a new record of $111,886.41, after which its rate decreased slightly to $111,012. About informs CNBC.
Analysts attribute this trend to a number of factors. According to James Butterfill, head of research at crypto investment company CoinShares, the current growth is driven by positive market dynamics, increased optimism about crypto regulation in the US, and steady demand from large institutional players. Investors are increasingly looking to Bitcoin as an alternative to traditional assets, especially in times of economic instability.
One of the factors that strengthened Bitcoin’s position was Moody’s downgrade of the US sovereign credit rating, which only strengthened the perception of the cryptocurrency as a hedge against the risks associated with fiat currencies.
Regulatory news also has a positive impact on the crypto market. In particular, the GENIUS bill, which provides for the legal regulation of stablecoins, passed an important vote in the US Senate. At the same time, the administration of Donald Trump is showing a commitment to cryptocurrencies, including through the activity of adviser on AI and digital assets David Sachs.
Another stimulus was the statement of the chairman of JPMorgan, Jamie Dimon. Despite his previous skepticism about Bitcoin, he announced that the bank would allow customers to buy the cryptocurrency. The decision could send a powerful signal to other members of the financial sector, who have so far been cautious about digital assets.
