As of March 5, the price of Bitcoin was approximately $87,100, which is 3.4% higher compared to the previous day. This is reported by Investing.com, writes UNN.
Details
This increase occurred against the backdrop of a prolonged decline in prices, which prompted advantageous purchases, as well as hopes for a reduction in trade tariffs by U.S. President Donald Trump, which contributed to a risk appetite.
Despite Trump's promises regarding the crypto reserve, the price of Bitcoin experienced significant fluctuations as his cryptocurrency plans remained unclear. Additionally, during his address to Congress on Tuesday evening, the U.S. President did not mention cryptocurrency.
Overall, Bitcoin continues to demonstrate high volatility, which is a characteristic feature of the cryptocurrency market.
Reminder
Since March, Bitcoin has risen by 20% following Trump's announcement of the creation of a U.S. strategic reserve of cryptocurrencies. The reserve will include Bitcoin, Ethereum, XRP, Solana, and Cardano.