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

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Bitcoin has reached a historic high, exceeding the $97,000 mark

November, 21 2024
watermark Economic news

Investors continue to actively invest in cryptocurrency, expecting favorable policy changes under the new president. This was reflected in the bitcoin exchange rate, which increased by almost 6% and reached $97,458. 


Shares of cryptocurrency-related companies are also showing growth. MicroStrategy, one of the largest companies investing in bitcoin, rose 3% after a previous increase of more than 10%. 


The rise in the price of BTC is due to hopes for a more loyal attitude towards cryptocurrencies from the new government. It is assumed that Trump may introduce more flexible regulation and even consider the possibility of creating a national strategic reserve of bitcoin. Experts predict that the price of bitcoin could reach $100,000 this year and double by the end of 2025.


Analysts also note that the growth of the bitcoin exchange rate is associated with improved liquidity, increased institutional interest and a more favorable regulatory environment. In 2024, bitcoin has already grown by more than 127%.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.