(dpa)
Published on: Tuesday, December 12, 2023 – 9:44 PM | Last updated: Tuesday, December 12, 2023 – 9:44 PM
The most famous digital currency in the world, Bitcoin, was trading at a price close to $42,000 per unit, today, Tuesday, after a period of turmoil that led to its decline by about 8%, and raised speculation of more volatility until the end of the year.
According to data collected by Bloomberg News, during the first three days of this week, Bitcoin recorded its worst performance since mid-August, as it fell from the level of $45,000 per unit before these days.
Some observers attributed this turmoil to the movements of nervous speculators to reduce their positions in the market before the meeting of the Open Market Committee responsible for managing monetary policy in the US Federal Reserve (central bank) to review monetary policy, in light of strong bets on reducing interest rates next year. But most observers did not easily find a clear reason for the decline, as they described it as expected after the price of Bitcoin rose by 152% since the beginning of this year.
Bloomberg indicated that Bitcoin has clearly recovered this year from the significant deterioration it recorded last year after investors’ confidence increased in the regulatory authorities in the United States allowing the launch of tradable investment funds on the Bitcoin stock exchange, which increased demand for the encrypted digital currency.
The price of Bitcoin rose in trading this morning in New York by approximately 1% to $41,667 per unit. Smaller digital currencies such as BNP and Avalanche also rose, and the index of the top 100 digital currencies recorded a slight increase today.
2023-12-12 19:45:34
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