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Bitcoin (BTC) Rally: 5 Reasons Prices Go Up This Week

© Reuters.   Bitcoin (BTC) Rally: 5 Reasons Prices Go Up This Week
© Reuters. Bitcoin (BTC) Rally: 5 Reasons Prices Go Up This Week

(BTC) kept rising on Monday, boosted by the drive to achieve a “golden cross”, with expectations of a rally to new yearly heights. Here are the latest factors affecting the BTC price spike:

China Trade Wars: The trade wars between the US and China are seen as a factor driving buyers into BTC as a way to hedge risk. Additionally, a shakier exchange rate for the Chinese has led to aims to acquire more BTC. Trading has also become more active in China, supporting the proliferation of Tether (USDT). With this critical volume ensured by Chinese traders, any crisis or shakedown have the potential to benefit BTC prices.

More New Miners: Mining has remained near its peak values for days, and has picked up significantly. Estimates see many new miners joining in lately, in addition to the powerful hashrate of the leading pools and farms. Miners joining ahead of the reward halving may also have the interest t…

This article appeared first on Cryptovest

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