Charts are still bullish; The price of Bitcoin temporarily crossed the $24,000 mark
Continuing its uptrend, Bitcoin temporarily touched $24,000 as crypto investors start the new month with a smile.
The growth of the Bitcoin price occurs while the US central bank (known as the Federal Reserve) increased the benchmark interest rate by a quarter of a percent a day earlier. Jerome PowellThe chairman of the Federal Reserve Board says that the process of reducing inflation has begun. This statement caused the investors who bet on the reduction of inflation to relax and take more risk.
The highest price of Bitcoin in the last 24 hours was $24,249, however, at the time of writing, the popular cryptocurrency is trading at $23,824. Bitcoin’s record of $24,249 had not been recorded since August 17, 2022 (September 5, 1401).
The price increase did not happen only for Bitcoin and at the same time the share price of a number of companies has increased. In the last 24 hours, Meta’s best daily performance in a decade was recorded, and the company was able to add $100 billion to its market value. investigations CNBC It shows that the US Treasury yield and the US dollar index have fallen to attract more people to crypto.
The value of Bitcoin has increased by more than 40% since the beginning of this year, in order to partially compensate for the sharp drop in the price of this cryptocurrency in 2022. A number of analysts say that despite the increase in the price of Bitcoin, the crypto industry is not yet ready for explosive growth and the prices will probably return to the previous state.