look news india
Mumbai: Cryptocurrencies led by Bitcoin continued to rise for the second consecutive day after the US Federal Reserve raised interest rates by half a percent. Major crypto Bitcoin showed the level of $64000. However, profit booking at higher levels led to a decline in the price. After the interest rate cut, now the US presidential election in November
The Bank of England and the Bank of Japan decided to keep interest rates on hold after the Federal Reserve cut interest rates. Traders believe that macroeconomic data will be a catalyst for optimism in risky assets like crypto.
Volatility data shows that Bitcoin trading volumes have increased by $5 billion since Tuesday, indicating that investors are expecting volatility in the market going forward. In the last twenty-four hours, Bitcoin had risen to $64,100 and was quoted at $63,500 in the late evening. Ethereum was quoted at $2550, BNB at $572, Sola at $151.
Past records show Bitcoin and other digital assets growing in low interest rate conditions. A new wave of crypto is expected after the interest rate cut in the US. If Donald Trump wins the presidential election in the United States in November, the market expects a further surge in Bitcoin. Because Trump is in favor of the crypto markets.