Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Bitcoin has exceeded the $47 thousand mark for the first time since 2022


January, 09 2024
watermark Economic news

Today, the bitcoin exchange rate has reached a level above $47 thousand for the first time since April 2022. There was also an increase in the value of other cryptocurrencies, including Ethereum, Cardano, Solana and Polkadot. Ether grew by about 3.8%, while Cardano, Solana and Polkadot showed gains of 7% to 9%. In addition, shares of companies operating in the field of cryptocurrencies have risen in price.


The surge in market activity is associated with anticipation of the decisions of American regulators expected on January 10. These decisions relate to the updated applications of investment companies to create exchange-traded funds (ETFs) that will allow investors to trade shares directly backed by cryptocurrency.


The growth is also associated with expectations of halving (a reduction in the issuance of new bitcoins and rewards for miners) and a growing interest in cryptocurrencies as a tool for hedging inflation risks – investors fear that inflation in the US economy will remain at a high level and the Fed will not lower its key rate.


The cryptocurrency rally is likely to continue – analysts predict that in the coming days bitcoin may reach the level of $ 50 thousand, and by the end of the year even update its historical maximum of $ 69 thousand. The fact is that the probability of launching an ETF is very high, and most market participants expect the approval of the ETF this week. 


However, the U.S. Securities and Exchange Commission (SEC) is not formally required to explain its decisions and may postpone the review period to March.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.