Why Bitcoin Jumped on Monday

Bitcoin has been climbing since early Saturday morning. Truth to say regulation and taxation are on the way with steady steps, but that may be also good news, not only for Bitcoin, but also for , Ethereum, and Dogecoin as well.

The value of cryptocurrencies jumped over the weekend and the latest momentum continued early to post gains during Monday trading.

Crypto has been volatile all year, but the trading trends are moving higher as more and more people feel comfortable owning cryptocurrency and the U. S. government starts to take cryptos more seriously.

During the previous 24 hours, Bitcoin recorded higher by 6.1% and is trading right at $66,000. Ethereum’s move is a bit more muted, moving 4.2% higher, while Dogecoin is up 4.3% in the last day.

Since Saturday morning, each of these cryptocurrencies is up about 10%, showing strong momentum for the asset class overall.

The biggest news over the weekend was the House of Representatives passing a $1.2 trillion infrastructure bill that could have an impact on a large number of cryptocurrency companies. The bill includes a tax reporting requirement that expands the number of companies that would have to register as brokers, which could include crypto miners.

The crypto market over the last year you know that volatility is a standard at this point. Right now, cryptocurrencies are moving higher and investors bid up positions in hope that regulation and taxation actually solidify the industry in the eyes of more investors.