Asmee Ahuja 
Big jumps always happen in a short time. Bitcoin is back on the agenda in many countries. It is also worth noting that the growth rate of cryptocurrencies has increased and reached the highest levels of the year. Ethereum and other cryptocurrencies, especially Bitcoin, are on the rise. Bitcoin reached the highest level in the last 6 months and exceeded $25,000. According to experts, this upward trend supports the argument that the bear market has ended with the upward momentum that has continued since January.
Bitcoin Broke a Record
It was an active month in the cryptocurrency market. The total market value of fast-growing cryptocurrencies increased by 8 percent to $1.1 trillion. Ethereum and Bitcoin lead the rise in cryptocurrencies. And again, similar questions are on the agenda. Will there be another decline after this rise?
Why Has The Price Of Bitcoin Increased?
In fact, there are many positive factors that attract a lot of attention. Both in dollar terms and on the basis of other news, some serious options are emerging. Accordingly, here’s what we can say about the main reasons for the rise in the markets.
Among the positive factors that can influence the market are indications that Binance is ready to pay a fee to stop the investigation of the US authorities. This is according to a Wall Street Journal interview with Patrick Hillman, Binance’s chief strategy officer. The Binance representative claimed that the company may be willing to pay a penalty for its past mistakes and that the relevant authorities are taking action on the matter.
The U.S. Investigation Also Caused The Share Price To Rise
Binance has been at the center of the US Department of Justice’s investigations into money laundering and criminal sanctions since 2018. The leading cryptocurrency exchange’s decision to end concerns over the U.S. investigation is expected to provide relief to the market.
Experts also attribute the recent rise to rich investors unwinding their short positions (short selling). According to Coinglass statistics, short selling in bitcoin worth an average of $64.5 million was liquidated yesterday. Another factor contributing to this increase is the expansion of global stock markets.
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