Enthusiasm in cryptocurrencies! Bitcoin rose to 1.3 million lira
Recently, expectations that the US Federal Reserve may cut interest rates in the first half of 2024 have created a trend in different instruments. Cryptocurrencies were also among these instruments. Bitcoin rose above 44 thousand dollars today.
There are busy days in the cryptocurrency markets. Although the rising wave that started with the leading cryptocurrency Bitcoin did not affect altcoins much, strong and volatile cryptocurrencies started to rise.
Bitcoin started to approach its historical peak of $69 thousand, which it reached in November 2021. Bitcoin, which has not provided great profits to its investors for more than 2 years, has started to converge to the prices of its popular days.
While the expectation that the US Central Bank , the Fed, may cut interest rates in 2024 weakens the dollar, there are rapid increases in gold and cryptocurrencies.
In addition, fund updates made by giant companies to Bitcoin Exchange Traded Funds also support the rise. Bitwise and BlackRock's updates on their spot Bitcoin ETF applications to the SEC also caused the market to move.
EXCEEDED 44 THOUSAND DOLLARS
Bitcoin rose to 44 thousand 488 dollars (approximately 1 million 285 thousand liras) during the day. The market value of Bitcoin, which is 35 percent behind its historical peak, is at the level of 855.8 billion dollars . Bitcoin is currently selling at $43,640 with a premium of 4.4 percent.
Ethereum is also trading at $2276, up 2.1 percent.
AN RISE IS PREDICTED
It is stated that the Bitcoin rally is supported by institutional investor interest and the listing of ETFs. Stating that there may be an increase for Bitcoin between 48 thousand and 53 thousand dollars, analysts suggested that the momentum is upward.
DO NOT BELIEVE EXPERTS, ADVICE, COMMENTS
There are no regulations regarding cryptocurrency markets in Turkey . For this reason, people who comment on crypto money, give advice, and make fundamental and technical analysis should not be trusted. While people working in the capital market are allowed to take the exams opened by the Capital Markets Board and obtain a license and become an expert with this license, since there are no rules or authorities in the cryptocurrency markets, anyone, knowledgeable or uninformed, can comment and give advice. People who present themselves as cryptocurrency experts and make comments and recommendations considering the interests of the institutions they work for should not be trusted. It would be in your interest not to believe people who try to create volume by commenting on social media and video sites.
