This Monday, the value of Bitcoin, the main digital currency on the market, reached USD 42,000. Investors expect the bullish trend to continue, despite expectations for the Fed’s announcements next week.

Analysts consider that this is a revaluation of the cryptocurrency above 5 %. And they add that it may be influenced by the new employment data in the United States, which will be announced this Friday, December 8.

Revaluation of Bitcoin amid adverse factors

Without a doubt, the monetary policy of the North American country facing 2024, and taking into account that it will be the year of presidential elections, directly influences the value of bitcoin. To any measure announced by the Federal Reserve, a possible authorization in January of a bitcoin ETF by the SEC must be added, in addition to the reduction that bitcoin miners suffer every four years in their reward, known as halving.

Amid adverse circumstances in the crypto market, such as the recent sentencing of FTX CEO Sam Bankman-Fried and the fine imposed on Binance CEO Changpeng Zao, who also had to leave office, the authorities’ decisions are leveraging the confidence in bitcoin, which this Monday reached USD 42,000, and then stabilized and closed around $41,537.

M.Pino

With information from international media and social networks

(Reference image source: Traxer, Unsplash)

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La entrada Bitcoin price reached USD 42,000 apareció primero en Bitfinance.