After a prolonged dry spell, BTC is finally poised to change its trajectory. In the early hours of Wednesday, the cryptocurrency managed to surpass the $94,000 mark. This is a positive sign for BTC holders after the sudden crash last month. This sudden price rally has put the crypto in a favorable position.
This movement has captured the eyes of investors and market experts. As a result, one such expert, Gautam Chhugani from Bernstein, stated, “In all my time covering crypto, this is the best price action I have seen on Bitcoin.” He further added, “[It’s] hard to not have crypto exposure in times like these.”
This recent move is in contrast with BTC’s current trajectory. Therefore, this could potentially increase the price and enhance the overall ROI. Just a few days back, the massive price cascade left everyone on edge. There was an enormous call to abandon ship. However, the tables have now turned, and prices have become more bullish.
This bullish run is primarily driven by market stabilization and the implementation of major favorable regulations. With BTC being one of the biggest names in the industry, the token is likely to be in discussions about more favorable regulatory measures that can make it more useful in the long run.
