Since 2018, bitcoin prices have fallen sharply as countries have intensified their influence on digital cryptocurrency regulation. As of the end of June this year, bitcoin prices have shrunk by nearly 60% this year.
However, market concerns have eased recently, and digital cryptocurrency prices have risen. Today, the market continues this injury, and the MVIS CryptoCompare digital asset index covering the 10 largest digital cryptocurrencies has risen 11%.
Among them, the price of bitcoin rose by 1.4%, and the price of Ripple, Ethereum and Litecoin also rose.
Ryan Rabaglia, chief trader of Octagon Strategy, a digital cryptocurrency trading company, said: 'The market has responded to some positive news, including BlackRock's involvement in the field.'
Recently, it is reported that global asset management company BlackRock is seeking to provide customers with bitcoin-related investments. BlackRock is a global asset management company that manages $6.3 trillion in assets. It reports that the company has set up a working group to be responsible for cryptocurrency. Feasibility studies of market and blockchain technologies as part of a plan to enter the emerging encryption arena.
In addition, the financial stability agency 'Financial Stability Board', which is responsible for coordinating the 'G20' (G20), issued a framework on Monday to alert vigilantly to the possible risks of digital cryptocurrencies such as Bitcoin. At the same time, it is pointed out that digital cryptocurrency has not yet constituted a major risk to global financial stability.
La Baglia believes that this is also a positive factor in the recent rise in the price of digital cryptocurrency.