Bitcoin Breaks Record High in Latest Cryptocurrency News
Bitcoin reached a record high on Sunday evening as investors eagerly anticipate the Federal Reserve’s decision to cut interest rates later this week.
Investors are optimistic about the Fed potentially cutting interest rates at its upcoming two-day policy meeting that concludes on Wednesday.
Currently, Bitcoin has surged nearly 8 percent for the month, marking a 50 percent increase since the U.S. presidential election and an impressive 145 percent rise for the year.
According to Coin Metrics, the price of Bitcoin recently jumped over 4 percent to $105,207. Previously, it hit a new all-time high of $106,509. Ether, another popular cryptocurrency, also saw a 4 percent increase just below the $4 mark. The broader crypto market, as indicated by the CoinDesk 20 index, experienced a 4 percent gain as well.
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