The so-called „Father Christmas rally“ has been commented on by many investors and analysts.
Russian observers, who like their Western colleagues are betting on a long-term growth of the BTC value, didn’t stand aside either.
At the end of this week, the State Duma also reacted to the cryptocurrency’s rise.
Arseniy Poyarkov, who sits on the State Duma’s expert council on the digital economy and blockchain industry, attributes the bitcoin rally to the dominance of a positive trend in local markets.
The expert said:
Bitcoin is linked to the financial market, not as much as the stock and bond market, but nonetheless. The money supply in the world has been building up. Especially this year because of the injection of money into the economy.
Investors have been looking for areas in which to invest their capital. The influx of money into stock indices has been accompanied by an increase in the value of cryptocurrencies and other instruments. Money is now flowing into alternative markets, which is why bitcoin is making new highs, 360 TV quoted a State Duma spokesperson as saying.
On Saturday, December 19, bitcoin rose to $22,943. The entire cryptocurrency market capitalization now exceeds $654.359 billion.