Bitcoin has climbed by 9.7 percent and reached $9,346 on Valentine’s Day. This is the highest rate that Bitcoin has achieved since February 4.
This is great news for all Bitcoin traders. The government regulations have changed a wee bit as far as Bitcoin is concerned. This boost in the trading market could be due to the positive attitude that the government is showing towards the cryptocurrencies. There is a more optimistic view about Bitcoin at the moment.
There is a tone down in the regulation about cryptocurrency in South Korea. There were fears a few weeks ago that the government would shut its doors on cryptocurrency. There are reports that South Korea is considering regulation on the likes of the New York State Department of Financial Service’s ‘BitLicense’. The government does not want to favor any illegal acts on the cryptocurrency trading. They want to make a positive and legal change in the market.
The struggle by the Bitcoin in the last two months is due to the regular change in the cryptocurrency policy of South Korean regulators. The government also brought about an act to ban all unidentified trading accounts in South Korea in late January. The gain Bitcoin has shown off about $3000 is a remarkable one after a two-month low.