Bitcoin and Ethereum (ether) cryptocurrencies have reached their highest value in more than two months. This is striking, given that there is uncertainty surrounding stricter regulations that the United States wants to introduce for cryptos.
Bitcoin gained 3.1 percent on Sunday, rising to $45,328, the highest level since May 18. Ether rose 3.5 percent to $3,191. The coin gained value for the fifth day in a row. According to crypto experts, optimism has returned in the digital currency markets, although a lot of uncertainty remains.
Cryptocurrencies have lost a lot in recent months. Investors were concerned, among other things, about the tightening of the Chinese government’s crackdown on the currencies. In addition, Tesla boss Elon Musk also pressured cryptos after questions about the energy consumption when mining them.
The US government’s plans for the crypto markets remain an uncertain factor. Among other things, stricter reporting requirements are proposed for transactions. In addition, the crypto coins must be taxed extra. The plan still needs to be approved by Congress.
But despite the US regulations in the making, digital currencies have gained in value. In the wake of bitcoin and ether, binance coin, cardano, XRP and dogecoin also rose. The market value of digital currencies is currently close to 1.9 trillion dollars. At the low point in June, that was almost $1.2 trillion.
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