The three major U.S. stock market indices, which had been showing endless declines, have begun to rebound.
The S&P 500 opened with a 1.16% gain, followed by the Nasdaq with a 1.63% gain. The Dow Jones Industrial Average also rose 0.68%, signaling a positive outlook for the future of the coin market.
Bitcoin, which once fell below $50,000 amid the endless stock market crash, signaled a revival by recovering to $55,995 at 23:35 local time.
It has recovered from the day’s decline to +0% compared to the previous 24 hours, and many investors are expecting a ‘real rebound’.
There’s more good news for the cryptocurrency market. Even beyond the U.S. stock market, which is an absolute indicator, Donald Trump Jr., the eldest son of the former U.S. president, predicted a positive future for cryptocurrencies.
He stated on his X (former Twitter) that “something huge will soon change the cryptocurrency market. Decentralized finance is the future. Beware of being left behind.”
It’s also believed that many whales continued to accumulate during this bear market. The number of wallet addresses holding more than 100 Bitcoins has actually increased during the recent correction.
In other words, it can be interpreted that whale investors viewed this bear market as the starting point of a rebound rather than an endless fall, and that they viewed this bear market as a buying opportunity.
India also expressed a positive view on cryptocurrencies.
The views expressed by India’s Finance Minister Pankaj Chaudhary in his recent appearance in Parliament were very positive.
He stated, “The negative effects of cryptocurrencies, such as money laundering or financing war and terrorism, are extremely negative and should be regulated, but there are currently no plans to regulate cryptocurrency transactions themselves.”
In other words, opinions on illegally used virtual currency are naturally negative and legal sanctions should be imposed, but it can be interpreted that there has been no discussion at all on any bill to sanction the current trading.
This speech, which stands in stark contrast to India’s stance, which has seen a lot of negative feedback this year, provides clues that India, too, can be positive about the future direction of cryptocurrencies.
With countries like the United States and India beginning to recognize virtual currency as an asset with significant future value, many coin investors are beginning to feel the wind of hope again.
The future of the virtual currency market is drawing keen attention, whether it will be able to enter a bull market without difficulty, or whether a series of negative factors will cause the market to fall further.
