The price of Bitcoin updated its all-time high, exceeding $106,000 for the first time. At the maximum of the last 24 hours, the most popular cryptocurrency cost 106.5 thousand dollars, according to data from Coindesk.
Author:
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At the time of this publication (10:32 Moscow time), Bitcoin was trading at $105.2 thousand, with a price increase of 3.4% per day. Trading volume in the last 24 hours exceeded $63 billion and currency capitalization reached $2.7 trillion, with a total cryptocurrency market capitalization of $3.71 trillion.
“The new all-time high is significant for Bitcoin. From an asset driven by retail investors, Bitcoin has evolved into an asset supported by institutional demand, exchange-traded funds and corporate treasuries, strengthening its legitimacy,” said BTC Markets crypto analyst Rachel Lucas.
According to Reuters, Bitcoin’s rapid growth was sparked by US President-elect Donald Trump’s announcement of his plans to create a “strategic reserve of Bitcoins” similar to strategic fuel reserves.
The price of the currency may also be affected by the expected decrease in the US Federal Reserve’s key rate by 25 percentage points. to 4.25% –4.5%, according to experts interviewed by Decrypt. In his opinion, the rise in the price of Bitcoin can continue if the exchange rate is indeed reduced.
Polymarket cryptocurrency bets show that the market expects Bitcoin to rise to $110,000 by the end of December (70.5% probability).
A week ago, the price of Bitcoin fell below $95,000 amid news of Microsoft’s reluctance to follow MicroStrategy’s lead and invest in cryptocurrencies.
Author:
Mikhail Zelenin
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
