The price of the reference cryptocurrency Bitcoin exceeded the threshold $42,000 For the first time since April 2022, the revaluation is above 5% in anticipation of new employment data from the US, which will be released on Friday and will be the last data released before the next Fed meeting.
In addition to the impetus on the sign that US monetary policy may adopt for 2024, other factors behind Bitcoin’s revaluation will be as follows: Possible authorization of an ETF in January In addition to Bitcoin, the United States Securities and Exchange Commission (SEC)halve‘, the reduction in rewards that Bitcoin miners experience every four years.
Bitcoin reached its price in Monday’s session. $42,155However, it later stabilized its rise at around $41,537 with a 5.2% revaluation compared to the previous close.
In this way, the price of the cryptocurrency returns. Levels not seen since April 2022Due to the problems that occurred in May of the same year moon tokenConnected to the Terra protocol’s ‘stablecoin’ UST, known as ‘crypto winter‘, with a succession of bankruptcies and interventions, came to a head in November last year. FTX bankruptcy.
However, the problems in the sector have not stopped shaking the market yet, and at the end of last November, the resignation of the Binance CEO of the time was known. Changpeng ZhaoAs part of a deal with the U.S. Government that included the company and executive agreeing to charges related to money laundering, as well as paying a multimillion-dollar fine.
In this sense, Su Yen Chia, co-founder of the Asian Crypto Alliance, thinks that the recent actions of the authorities have “instilled violence”. trust among investorsAccording to Bloomberg, Bitcoin price is “benefiting from the momentum of traditional finance as expectations for a Fed rate hike fade.”
golden record
On the other hand, the price of spot gold also increased strongly due to the possibility of an increase. US monetary policy changeThis means further weakness in the dollar, which pushed the price per ounce to a maximum of $2,148 from $2,072 at the previous close.
The rally in gold gained momentum last Friday when the Fed Chairman made the following statement: Jerome PowellHe stated that inflation was “on the right track” and added the importance of acting with “prudence” in monetary policy.
“Bets on rate cuts are piling up in markets,” Capital.com’s senior market analyst told Bloomberg. Kyle RoddaThey think gold can continue to rise and will do so at the first sign of a recession.
Source: Informacion
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