Market participants are not in a hurry to get excited, assuming that the current jump is a temporary dynamic. The current positive momentum could also be based on the statement of American Senator Mike Crapo that the government will not be able to block Bitcoin even if it wants to. Everybody already knew that, but such revelations from senior officials are always very pleasing to the crypto community. Bitcoin awareness and benchmark status could make it a really common means of payment, but volatility would not allow that to happen, so instead of Bitcoin, the stablecoins would be used for actual trade settlements, leaving the door open for competitors.
The FxPro Analyst Team
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