Bitcoin - Overview from November 8, 2024
Published on 08.11.2024 12:23
The price of Bitcoin has reached a historic high, and there are factors suggesting the possibility of further growth. A significant influx of capital into Bitcoin ETFs and the successful performance of the Republican Party in the US elections, which strengthened its positions in Congress, have become important indicators prompting institutional investors to increase investments in cryptocurrency. Growing chances of creating a Strategic Bitcoin Reserve in the US and prospects for further reductions in the Federal Reserve rate also affect the market. However, when planning purchase transactions, it is necessary to consider the planning horizon and the risks associated with opening positions at price peaks.