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Bitcoin started the fourth quarter of the year on the rise, rising nearly 10% on Friday as speculators grow convinced that the crypto asset will continue to post gains despite increasing regulatory pressure.
The largest digital asset by market cap jumped to $ 47,742, helping push other cryptocurrencies like Ether and Litecoin higher. Thursday’s comments were interpreted by Federal Reserve Chairman Jerome Powell as a sign that the United States may take a lighter regulatory stance.
During the Treasury and Federal Reserve outbreak response monitoring session, Powell confirmed that the United States has no plans to ban Bitcoin and cryptocurrencies.
“We may be seeing the start of the decoupling of traditional markets here,” said Vijay Ayar, head of Asia-Pacific at crypto exchange Luno Pte. “The cryptocurrency appears to be in its own bull cycle and continues to rise,” Bloomberg reported. .
Despite falling 7.6% in September, Bitcoin posted a 25% gain in the third quarter. This compares to a 41% drop in the previous three months.
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