According to an official in the White House, the US government has an accumulation plan for Bitcoin (BTC). The comments were made when they spoke at the Bitcoin Policy Institute. An accumulation plan is likely to take the form of a strategic long -term buy.
Bitcoin gets momentum in the middle of the market for the market
The Cryptocurrency market met a steep correction last week after an escalation in the Israel-Iran conflict. BTC’s price fell to less than $ 99,000 on June 23 for the first time since the beginning of May. The Federal Reserve interest rates may also have added the dip to the feeling of investors.
The resuscitation of the market is likely to be due to the interruption in the Middle East’s conflict. The opportunity for peace talks has led to a significant increase in investors’ confidence. The White House’s comment can further increase investors’ feeling.
Bitcoin (BTC) has seen continuous inflows from financial institutions. BTC-based ETFs have seen consistent purchases despite the latest volatility. Retail investors have played a minor role in this cycle so far. An increase in retail money can lead to another haus -like outbreak.
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There is also a possibility that BTC will meet a correction if market conditions fall. Global geopolitical tensions and trade war can prevent a market -wide rally.