Bitcoin close to all time high, know when the milestone will be broken

Bitcoin (BTC) has once again excited its investors. Bitcoin, currently trading at $106,407.99, has gained 1.20% in the last 24 hours and is very close to its All-Time High of $109,114.88 made on January 20. At the time of writing the news, BTC's market cap has reached $2.11 trillion. If we talk about the 24-hour low, it was $104,206.52 and the high was $108,024.36. Thus, at the time of writing this news, it was only 2.45% below its ATH.

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Not only this, compared to the All-Time Low of $0.04865 in 2010, BTC has shown a tremendous increase of 218,806,829.94% so far. In such a situation, the investors of this token are hoping that soon this token can cross its all-time high and create new milestones. In such a situation, let us know the reasons due to which the price of BTC can see a rise.

Increased confidence due to institutional investment
The biggest reason behind the recent rise in Bitcoin is the rapid increase in institutional investment. Big companies like MicroStrategy and Japan's Metaplanet Inc. have steadily increased their BTC holdings.

MicroStrategy bought thousands of BTC in April and May, while Metaplanet made BTC a part of its balance sheet, indicating that the corporate world is now considering Bitcoin as the asset of the future. This growing corporate confidence has also increased confidence and enthusiasm in the minds of retail investors.

Growing acceptance at the global level Positive policies are emerging regarding Bitcoin in countries like America and Taiwan.The US government is working towards increasing its BTC reserve.A proposal has been placed in the Parliament of Taiwan to create a Bitcoin Reserve.On the other hand, China, which had previously banned BTC Mining, is now considering plans to restart it after seeing the crypto-friendly US policies.All these steps are having a positive impact on Bitcoin Price. Hope for regulation in India

A new hope has also arisen regarding the crypto sector in India. The Supreme Court has directed the central government to make a concrete policy regarding crypto regulation. Where the Supreme Court has questioned the government that, the Government of India levies tax on crypto but why does it not bring it under the purview of regulation. If crypto gets official recognition in India, it will not only be a good sign for domestic investors but can also make the Indian market an important crypto hub for global investors.