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Bitcoin The Reasons That Explain The Rally And The Setback That Is Coming

Bitcoin reaches $28,000 amidst widespread euphoria, but the setback after the rally is on its way The bitcoin price shot up in December by about 40% and is moving slightly above $27,000. In the middle of the month, it already exceeded 23,000 dollars and now it has reached 28,000 dollars, a new historical maximum. In this way, the bitcoin signs its bad bullish month since June 2019, which also occurs at the margin of other cryptocurrencies. Thus, the Litecoin barely got to 18% in the week and 1.75% for Ethereum. We are in a new environment where bitcoin is the maim goal. As is often the case after such vertical advances, now we have to wait for the setback to come. Its amount will test the strength of the market. In addition, Bitcoin faces scrutiny from regulators and the reception it will receive from the Biden Administration. There are several reasons for the revival of Bitcoin: the arrival of institutional money, the interest of companies like Paypal or Square, protection against inf...