Over the weekend, Bitcoin crossed the $45k mark representing strong investor confidence. However, the leading tokens dropped by up to 3% in the past 24 hours and at press time, they are exchanging ownership at around $43,200.
While it’s a sluggish start to the week, experts are betting on a bull run as the US awaits discussion on the new crypto tax bill on Tuesday. There have been a few favourable statements from the officials at top positions, which has driven the prices upwards.
Last week, the US SEC chair had spoken highly of Bitcoin and blockchain and has said that they are definitely an invention and not a bubble. The statement had immediately triggered $BTC prices. Also, after last week, the White House agreed to discuss the proposed changes to the new and changed crypto tax laws in the US, the market responded positively.
As the Bitcoin bull sets in, the price of Gold in the international market has dropped below $1700 an ounce. BTC has once again beaten gold in the early third-quarter results. Experts and analysts are seeing a $50k BTC soon despite a slight drop in the prices on Monday. Other top tokens have also demonstrated an upward trend. As the prices of top cryptocurrencies surged, the crypto market gained over 300 billion dollars in the last week.