Bitcoin Updates Its Maximum for the Year
[You must be registered and logged in to see this image.]
The cryptocurrency market showed a correlation with the stock market, gaining bullish momentum amid softening rhetoric from the Federal Reserve.
The price of the main cryptocurrency reached USD 35,900 for the first time in 18 months.
Wherein:
→ the positivity is also due to expectations that the US Securities and Exchange Commission will approve a Bitcoin ETF. According to analysts at Bernstein (an asset management firm), this could happen by the first quarter of 2024.
→ according to the same analysts, the price of Bitcoin could reach USD 150k by 2025;
→ Jurrien Timmer, director of global macroeconomics at Fidelity, called bitcoin a commodity currency or exponential gold that aims to be a store of value and a hedge against monetary depreciation.
[You must be registered and logged in to see this image.]
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
[You must be registered and logged in to see this image.]
The cryptocurrency market showed a correlation with the stock market, gaining bullish momentum amid softening rhetoric from the Federal Reserve.
The price of the main cryptocurrency reached USD 35,900 for the first time in 18 months.
Wherein:
→ the positivity is also due to expectations that the US Securities and Exchange Commission will approve a Bitcoin ETF. According to analysts at Bernstein (an asset management firm), this could happen by the first quarter of 2024.
→ according to the same analysts, the price of Bitcoin could reach USD 150k by 2025;
→ Jurrien Timmer, director of global macroeconomics at Fidelity, called bitcoin a commodity currency or exponential gold that aims to be a store of value and a hedge against monetary depreciation.
[You must be registered and logged in to see this image.]
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.