Bitcoin price exceeded $ 15,000 for the first time since the beginning of 2018
Bitcoin rate surpassed $ 15,000 again, returning to levels in January 2018 amid rising stock markets and the US presidential election, the result of which remains unknown.
Over the past month, the price of bitcoin has increased by more than 40% and today has reached $ 15,100, showing an increase of 9% in the last 24 hours alone.
Yesterday, it plunged from $ 14,000 to $ 13,520 during trading on the Asian bourses after Donald Trump’s victory in Florida and other key states potentially diminished the chances of distributing the larger fiscal stimulus package promised by Democratic candidate Joe Biden. However, the rate quickly recovered and the cryptocurrency resumed its growth.
“We don’t yet know what the post-election fiscal stimulus will be, but investors still believe the Fed will restart the printing press, which will play into the hands of bitcoin, whose supply is limited,” said GSR trader John Kramer.
Bitcoin has broken a new round figure on its way to an all-time high of $ 20,000. This path will not be fast – a correction is likely to take place in the coming days. However, most of the fundamental factors, primarily the depreciation of the dollar due to the continued stimulation of the US economy by the Fed, remain favorable for the growth of cryptocurrencies.
According to research firm Glassnode, the number of Bitcoin wallets holding more than 1 BTC has reached a new all-time high of 824,193.