Being the original cryptocurrency, Bitcoin has always been the yardstick for the entire crypto market, historically affecting the price movement of all other digital coins. However, this remains a market characterized by extreme volatility, opaqueness, and lack of regulatory oversight, which has impeded the mainstream adoption of cryptocurrencies. “Support from large institutional investors is critical for legitimizing Bitcoin and introducing some stability in this market,” says prominent forex broker Pablo Soria de Lachica.“In addition, the cryptocurrency ecosystem needs to inspire confidence in the buying public, which, in turn, would require regulation, transparency, enforcement, and, perhaps most importantly, the acceptance of cryptocurrencies as a viable medium of exchange. Little to no progress has been achieved in these areas since the launch of Bitcoin in 2009, and the price of the first digital coin has been on a rollercoaster for most of…

The initial months of 2021 became a banner period for Bitcoin, following impressive gains in 2020 despite the impact of the pandemic on the stock market. The original cryptocurrency climbed from about $4,740 in mid-March 2020 to just shy of $30,000 as the yearcame to a close. This momentum carried into 2021, with February witnessing a landmark event: Bitcoin crossed the $50,000 barrier, mainly propelledby news of several major corporations planning to enter the crypto space, among them BNY Mellon and Mastercard. “For all the great developments in early 2021, the two most noteworthy events for the cryptocurrency world so far in the year took place in April, and there is no mistaking the connection between them,” comments renowned forex expert Pablo Soria de Lachica. “The public market welcomed Coinbase, and Bitcoin set a price record, exceeding $63,000 in value…