The price of the cryptocurrency “Bitcoin” has dropped below 120 thousand dollars after it recorded a new record today, parallel to the rise in US equities, and amid investors chasing more risks in the global markets. The price of the cryptocurrency was $ 124563 early Thursday morning, before giving up part of the profits to trade about 117,452 dollars at two o’clock in the afternoon New York. The value of the original cryptocurrency fell by more than 4% to a government report, which showed the acceleration of wholesale prices in the United States in July in the highest rate in three years. This has led to a decline in equities and reduces expectations of reducing interest rates. The fastest rate of US producers for three years in a bullish performance in Bitcoin has gradually ascended most of the past year to ‘Benjad’, with the support of the favorable legislative environment in Washington, whose pillars were discharged by US President Donald Trump. Public enterprises, led by Michazi Silor, strengthened the question by following a strategy that is becoming more popular based on the storage of encrypted currencies. This approach has recently spread to smaller competitors, such as Ethereum, which led to a widespread increase in encrypted assets. Useful reduction of interests improves optimism this coordinated movement how the speculative angles in the market and the most important indicators acquire their incentive of the same source of optimism. US inflation data came in line with expectations this week, strengthening the bets that the Federal Reserve will lower in September, reducing financial conditions and encouraging capital flow from large shares to volatile cryptocurrencies. “The cryptocurrency coins are positively associated with stocks, and the relationship was stronger for Ethereum compared to Bitch … The general mood looks positive,” says Chris Newhaus, the director of research at Ergonia. Additional currencies of encrypted currencies have also increased ‘Ethereum’ with the support of the ongoing demand of new -active cryptocurrency storage companies, while the most stable “cough” rises on the constant flow of the incorporated indicators, despite technical resistance. “A mix of the slowdown of inflation, increasing expectations for reducing interest and unprecedented institutional participation by the recorded indicators has created strongly supportive winds,” says Ben Corland, CEO of the DIO currency platform. He concluded: “The difference this time is the maturity of the question base. This wave is not only enthusiasm of individual investors, but is rather a structural purchase of assets managers, companies and governments.” * Prices have been updated in the case to reflect the reality of the market
A quick drop in Bitcoin after the first time exceeded the $ 124,000 barrier
