Bitcoin with a new record. Experts explain the reasons
On Monday, bitcoin reached a new high of over 106,000. dollars. According to experts, this is related to the expected next reduction in interest rates in the US.
On December 5 – a month after the US presidential elections – bitcoin broke the 100,000 barrier. dollars, the quotations of the most famous virtual currency for a moment exceeded 104,000. dollars. From Monday, the new maximum is over 106,000. dollars.
The world’s largest cryptocurrency reached a peak of 106,000 today. $533, an increase of 4.8%. compared to the last Friday’s rate, and by as much as 142 percent. since the beginning of the year. As Business Insider Polska notes, tokens that formally have no material value and are not even used for real purchases on a larger scale (outside the black market) have already reached a total value of USD 2.1 trillion.
Bitcoin with a new record. What reasons?
Coindesk cites the expected drops in Fed interest rates at the next meeting (scheduled for Wednesday, December 18) as the direct cause of the current increase in cryptocurrency valuations. A decline of another 0.25 percentage points is forecast. up to 4.25-4.50 percent As the portal notes, we are dealing with a situation where bitcoin is not rising so much as the dollar is falling, as a result of which keeping money in American bonds will soon bring lower profits (interest). Due to the expected reduction in interest rates, investors are redirecting their interest to, among others, for cryptocurrencies.
Writing about breaking the barrier of 100,000 It is no accident that we mentioned the US presidential elections, because cryptocurrency prices skyrocketed right after their quick results, when it turned out that Donald Trump was returning to the White House after four years. The former and future president did not hide his enthusiasm for the cryptocurrency industry, which in turn fueled the enthusiasm of investors.
– Trump has promised to make America the cryptocurrency capital of the world, and his senior team is filled with strong cryptocurrency advocates. The pro-cryptocurrency nature of his team, family and donors increases the likelihood that Trump will follow through on his campaign promises to the industry – said Alex Thorn, head of research at Galaxy Digital, quoted by tvn24.pl.
After crossing the barrier of 100,000 dollars, Trump wrote on Truth Social: “CONGRATULATIONS BITCOINAR!!! $100,000!!! YOU’RE WELCOME!!! Together We Will Make America Great Again.”
