Bitcoin's All-Time High Will Look Low Soon. Here's 1 More Reason Why.

Bitcoin's (CRYPTO: BTC) new all-time high of about $109,800 will eventually look like a small hill in comparison to the heights it will likely reach, just the way the once-unthinkable $1,000 price level it surpassed in February 2017 looks today. As if there weren't enough reasons to be bullish about the coin's future, there's now yet another reason pertaining to its regulatory status in one of the world's major countries.Here's what just happened and why it matters.On May 15, the Ministry of Finance and the Central Bank of Russia announced that they would launch a pilot of a new cryptocurrency exchange wherein digital assets would be legalized and transactions would be above-board as part of an experimental legal regime designed to test regulation of the industry. The exchange, and legal access to buying, holding, and trading cryptocurrencies, will only be accessible for certain qualified investors and the companies that they are associated with, at least at first. The move comes on the heels of a proposal from the central bank in mid-March that planned for the introduction of the experimental legal regime so as to create a safe environment for developing sensible regulations that would enhance the cryptocurrency industry's viability in the country.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool