Yesterday, the price of bitcoin surged to almost $12,000, a level it last touched months ago. The surge was attributed to several positive news that came out this week. On Monday, the state of Wyoming passed a bill relaxing securities law for some tokens. In South Korea, a country which led to the drop of bitcoin, changed tune. A government minister said the country would support and even encourage crypto operations provided they operated as normal transactions.
The positive news on bitcoin is a step in the right direction for people bullish on the currencies. Now that regulators in the United States and South Korea have given a – sort of – support for the currencies, there is a likelihood that they will continue moving higher.
This week, if bitcoin crosses the $12,000 level, there is a likelihood that bulls will continue pushing it higher.
