Bitcoin Topped a price of $ 120,000 for COIN on Thursday for the First Time Mid-August As the US Government Shutdown ENTERED ITS SECOND DAY-AS Investors piled back into exchange-traded funds with the hope that the federal reserve soon soon interest rates.
Break price of bitcoin recently touched a price of $ 120,286 after novelty 2% over a 24-hour period, accorting to coingecko data. Over the past Week, the Leading Cryptocurrency Has Shot Up By Nearly 8%, Rising Again AFTER A Recent Lull As Investors Safe Safe Haven Asssets. The Price of Gold Has Also Risen This Week, Hitting Fresh Peaks.
Bitcoin’s Rise Comes as US Investors FLOCK to Spot Bitcoin Etfs Again. On wednesday, investors threw a total of $ 675.8 million at the funds – thehir highest level SINCE September 12.
Market Observers Previously Told Decrypt That bitcoin, Despite Being A “Risk-On” Assset Like Stocks, Was Moving More Independently. Bitcoin in the past has ben ben correlated with US Stocks – Partricularly Tech Equations – But has Also at Times Moved in Correlation with Gold.
The More Uncorralated Bitcoin’s Price Moves are, the More Attractive It Will Be For Investors, Bloomberg’s Etf Analyst Eric Balchunas Told Decrypt on wednesday.
Bitcoin and Gold Jump As Stocks Dip Amid US Government Shutdown
The Chance of a Rate Cut in October Has Soard, Too, Experts Also Told DecryptMaking the Biggest Digital Coin More Attractive. Bitcoin has typically Done well in Low-INTEREST RATE ENVIRONments.
Bitcoin has typically experienced Rough Septembers Along With Stocks, butno soared in October –dubbed “Uptober” by some. Nine out of the past 10 years have been strong for the Cryptocurrency, Experts Told Decryptand we’re already seeing that trend play out again in the Early days of the month.
Other Digital ASSETS ALSO Rose on Thursday alongside the leading cryptoCurrency: Etereum was recently trading for $ 4,407 after Jumping by 3%, while solana’s price stood to $ 226 AFTER ALSO RISING Over the past day by 3%.
Alongside the price surge, Crypto trades are Becoming increasingly bullish on Bitcoin’s prospects of Hitting a new all-time high price.
As of this Writing, myriad users predict that btc ha an 81% Likelihood of Hitting $ 125,000—Which Wold Be a New Record – schooner than it can plunge to $ 105,000. Those odds are up 15% over the last 24 hours alone. (Disclaimer: Myriad is a Product of Decrypt‘s parent Company, Dastan.)