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Bitcoin has broken the historical record of $106,000


December, 16 2024
watermark Economic news

Overnight, bitcoin overcame a historical high and reached $106,491. This growth, exceeding 4%, was due to expectations of an interest rate cut by the US Federal Reserve. A similar trend was observed in the Ethereum market, which also jumped by more than 4%, approaching the $4,000 mark.


Investors have no doubt that the Fed will cut interest rates at its two-day meeting, which ends on Wednesday. Analysts predict a probability of a 25 basis point decline at 96%. Bitcoin is often viewed as a technological action and such a decision can have a positive impact on its price. 


A decrease in interest rates, according to experts, can lead to a weakening of the dollar and an increase in the money supply, which in the long run favors bitcoin. 


Bitcoin has grown by almost 8% over the past month, by 50% since the US presidential election, and by an impressive 145% over the year. The growth of the digital asset, as well as the cryptocurrency market in general, is stimulated by expectations of a more friendly regulatory environment and the possible creation of a national strategic reserve of bitcoin.


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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.