Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Bitcoin reached a 3-year high


February, 27 2024
watermark Economic news

Over the past day, the cryptocurrency has increased in price by more than 10%, reaching $57,039, before partially correcting and settling at $56,605.


Since the beginning of the year, the price of Bitcoin has increased by 33%, continuing its long-term growth and fueling speculative interest in smaller tokens, including Ether and BNB.


About $5.6 billion has been invested in bitcoin ETFs, which began trading in the United States on January 11, indicating an increase in demand for tokens among investors. The upcoming halving of the growth rate of the token supply also contributes to optimism.


According to CoinGecko, the total value of digital assets now stands at about $2.2 trillion, compared with a minimum of about $820 billion in 2022, when FTX and other crypto platforms collapsed.


The durability of digital tokens continues to grow, despite the reduction in expectations regarding monetary policy this year, which is reflected in the growth of US Treasury bond yields.


Also this year, Bitcoin has surpassed traditional assets, including stocks and gold, while the coefficient comparing the price of a token with the price of a precious metal reaches its highest level in the last two years.


The Bitcoin exchange rate broke the $28 thousand mark on October 2, 2023. Since then, as we can see, the cryptocurrency has achieved significant success. The historical maximum of the bitcoin exchange rate was reached on November 10, 2021 at $68,700.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.