The Canadian government’s plans to incorporate cryptocurrency in expanded monitoring have the unforeseen consequence of fueling “unstoppable money.” The rise seems to have been triggered by something outside of the system. As part of Canada’s current Freedom Convoy protests, the government declared that anti-money laundering inspections would expand to include crypto dealings.
At a press conference, Deputy Prime Minister Chrystia Freeland made it clear that these amendments cover all forms of commerce, including digital assets and cryptocurrencies. The protests have long been a topic of disagreement in Bitcoin and cryptocurrency circles, following the aggressive actions of GoFundMe and the subsequent theft of GiveSendGo, which serves as an alternative means for delivering funds to protest participants.
As with Russia’s proposed crypto ban last month, the impact on Bitcoin was consequently positive. However, Bitcoin agencies like the open-source BTCPay payment gateway started to provide ongoing assistance to the cause. The host of the What Is Money? Podcast, Robert Breedlove, summed it up by hinting that when you employ unstoppable money, you can finally begin to reject all of their demands and live free.
The RSI Generates a Classic Bull Indicator
Bitcoin (BTC) chose for new gains on February 15 after a brief dip to nearly $40,000 signaled a sharp adjustment in its direction. According to statistics via TradingView and Cointelegraph Charts Pro, BTC/USD rose sharply overnight into Tuesday, eventually surpassing $44,000.
In a four-hour time frame, The move was alongside an RSI breakout that took the pair 6 per cent higher than Monday’s lows. On the same day, a popular Twitter account (Phoenix) stated in a new post that these are the first indicators of a trend break. The tweet indicated that hitting and maintaining $45,500 will be “very critical” for bulls, referring to last week’s high.
Altcoins are Reawakening
A more encouraging report came from the altcoin area, trading flat on Monday with nearly no movement amid big tokens. That immediately started to change as Bitcoin increased in value, including Ether (ETH) up over 8% just at the time of this article. Binance Coin (BNB), Solana (SOL), and Avalanche (AVL) all saw similar growth among the top 10 cryptocurrencies by market cap (AVAX).