This I think is one of the reason why Bitcoin has an upsurge of price lately. Now that cryptocurreny is now being legally traded and open for muslim, it could lead into a bull run which would benefit the entire globe. It's not everyday that a place makes Bitcoin legally traded which is why this news is a good news for everyone.There's a lot of Muslim rich investors that without doubt would buy Bitcoin without any hesitation anymore. Bitcoin is getting some names now and I hope there's more country to legalize it.
It could be. But there are lots of factors that could affect the price of BTC. Actually if you check the history the price hike on the second quarter.