Bitcoin has rapidly surpassed the $47 thousand mark

During Friday's trading, the bitcoin exchange rate rose sharply from $44.8 thousand to $47.7 thousand in just half an hour. Over the past day, bitcoin has risen in price by 10%, updating the maximum value since September 19.

Analysts have identified several reasons for such a sharp jump in price. The main reason for the growth of not only bitcoin, but also the entire crypto market is the news that the Visa payment system has announced the development of a blockchain network for convenient and fast conversion of tokens, stablecoins and national digital currencies. In addition, the driver of growth was the statement by the head of the Federal Reserve Jerome Powell that the United States will not follow the example of China and will not impose a ban on cryptocurrencies.

Another factor supporting the digital currency was the lifting of the temporary ban on mining in Iran, which had been in effect since the end of May due to drought and electricity shortages in the country.

The growth of the main cryptocurrency bitcoin pushes up the entire digital currency market. Analysts expect further development of the «bullish» trend, unless there is a new negative regarding the strengthening of regulatory pressure.

It is worth noting that the negative caused by the repressive measures of the Chinese authorities against miners and crypto investors is gradually fading away and ceases to affect the market. In this regard, experts expect a further increase in the price of bitcoin to the area of $ 48-49 thousand.