The flagship cryptocurrency has demonstrated a rise of 5.49 percent and risen above the $45,000 level for the second day in a row.
On Sunday, this level was also broken for the first time since the middle of May. The rally this weekend was triggered by the U.S. infrastructure bill and amendments to it that are being discussed by the U.S. Senate and threaten to damage the crypto industry heavily with draconian taxes.
Head of Galaxy Digital crypto hedge fund Mike Novogratz, former Goldman Sachs asset manager, took to Twitter today to share two possible causes preventing crypto from falling in the face of the tax provision that is about to be adopted.
The first one, he thinks, is that the crypto community has proven to be "big, diverse and loud." The second is that the new provision confirms the need for decentralization for average taxpayers who are into crypto.