The price of Bitcoin continues its upward run. In the midst of what many hope is the beginning of a new bull rally in the crypto market. Now that the fever for decentralized finance (DeFi) has finally come to an end. Thanks to this, today Bitcoin reached $ 14,000 per BTC once again. As he commented in the Tweet of the day crypto influencer Anthony Pompliano:
Bitcoin touches $ 14,000
Over the past few months, the crypto market has gotten off its normal course. Well, unlike what normally happens, most of the investments that have entered the world of cryptocurrencies, have not directly entered the Bitcoin market, but instead went to decentralized finance (DeFi).
Thus, from mid-July to the end of September, the DeFi experienced the greatest boom in its history. Increasing its value exponentially in a matter of weeks, attracting as a consequence millions of dollars of investors. Which wanted to take advantage of the increase in the price of the main DeFi tokens to obtain quick profits.
However, as normally happens with these hasty increases in the value of financial assets, the DeFi fever came to an end. Which led to the hasty departure of DeFi investors and their return to their traditional niche: the Bitcoin market.
Thanks to this, in recent weeks we have experienced a significant boost in the price of Bitcoin, which has gone from $ 10,297 at which it was on September 5, to $ 13,924 at the time of writing this article . After briefly touching $ 14,000, as analyst Anthony Pompliano noted with his Tweet.
This substantial increase in the price of Bitcoin would also be due to the uncertainty generated by the result of the US elections. Which has led many investors to take refuge in Bitcoin, while optimists hope that a favorable result for Biden will improve the conditions of the crypto world in the country. Being an impulse to take into account in today’s increase.