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Bitcoin rises to an unprecedented level... exceeding $70,000
money and business
Economy News - follow up
The currency "Bitcoin" rose to an unprecedented level for a short period today, Friday, in volatile transactions, coinciding with the continued surge in demand for cryptocurrencies in the investment community.
Bitcoin exceeded the level of $70,000 for the first time, supported by investor demand for new encrypted products that can be traded in US spot markets and expectations of a decline in global interest rates.
Bitcoin rose to $70,105 before quickly declining, recording $68,317.72 in the latest trading, according to Reuters.
The cryptocurrency market, specifically Bitcoin, is witnessing strong fluctuations after strong rises in the past weeks, supported by optimism about the future of monetary policy and also the momentum associated with investment funds related to Bitcoin, as well as the market’s anticipation of the halving process scheduled to take place in April of this year.
Issa Abu Daher, a director at Gate.io, said that Bitcoin rose from the beginning of the year from 39,000 to 69,000 without witnessing any profit-taking operations during that period.
Abu Daher expected that Bitcoin would continue to fluctuate at the present time, especially with the expected halving process approaching in about a month.
He pointed out that "Bitcoin" may reach levels of 70 or 75 thousand in the coming period, and that "Bitcoin" must witness a correction process "so that we can see beautiful numbers for it," he said.
111 views
Added 03/08/2024 - 8:52 PM
https://economy-news.net/content.php?id=41265
money and business
Economy News - follow up
The currency "Bitcoin" rose to an unprecedented level for a short period today, Friday, in volatile transactions, coinciding with the continued surge in demand for cryptocurrencies in the investment community.
Bitcoin exceeded the level of $70,000 for the first time, supported by investor demand for new encrypted products that can be traded in US spot markets and expectations of a decline in global interest rates.
Bitcoin rose to $70,105 before quickly declining, recording $68,317.72 in the latest trading, according to Reuters.
The cryptocurrency market, specifically Bitcoin, is witnessing strong fluctuations after strong rises in the past weeks, supported by optimism about the future of monetary policy and also the momentum associated with investment funds related to Bitcoin, as well as the market’s anticipation of the halving process scheduled to take place in April of this year.
Issa Abu Daher, a director at Gate.io, said that Bitcoin rose from the beginning of the year from 39,000 to 69,000 without witnessing any profit-taking operations during that period.
Abu Daher expected that Bitcoin would continue to fluctuate at the present time, especially with the expected halving process approaching in about a month.
He pointed out that "Bitcoin" may reach levels of 70 or 75 thousand in the coming period, and that "Bitcoin" must witness a correction process "so that we can see beautiful numbers for it," he said.
111 views
Added 03/08/2024 - 8:52 PM
https://economy-news.net/content.php?id=41265
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