Bitcoin and Ether have finally rebounded from seven-day lows.
Bitcoin is up 8% from yesterday, growing by $3,000 from May 31st when it was worth $34,200 to the current price of $37,200. This represents the highest daily gain for Bitcoin in a week.
Ether has also grown by 15% since yesterday, also the most registered in a week, reaching more than $2,670.
“We’ve seen our institutional clients express nothing but increased interest in strengthening their long-term positions during this time. The movement is bullish,” declared said Gunnar Jaev, COO at First Digital Trust, a digital-asset trust and custodian.
One key factor which played a role in the price increase was the announcement made today by the Reserve Bank of India (RBI) in which it mentioned that commercial banks can not refuse crypto services using the 2018 ban as an excuse as it is no longer valid.