Bitcoin Trades North Of $45,000 As Bullish Factors Point To Upside

Bitcoin Trades North Of $45,000 As Bullish Factors Point To Upside

Bitcoin has been trading above $45, 000 today after reaching a recent high over the weekend. Bitcoin prices have experienced some notable gains lately, rising to a fresh, multi-month high over the weekend at a time when many variables point to the potential for compelling gains later in 2021. At this point, the cryptocurrency was trading at its highest since May 16, additional CoinDesk data shows. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] The innovative digital asset experienced these gains after markets reacted to a Bloomberg article published Friday, which helped offer some clarity for industry participants. Citing a Treasury department official, the article stated that the IRS plans to specify that market participants will only need to comply with recently proposed reporting requirements if the government agency considers them brokers. After climbing to its highest in almost three months, bitcoin fell back somewhat, declining to almost $45, 600 yesterday, before rallying above $48, 000 again today. Jesse Proudman, co-founder and CTO of crypto hedge fund Strix Leviathan, spoke to these developments. "Bitcoin rose over the weekend on the back