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topicnews · September 17, 2024

Bitcoin on Fire – significant daily gain shines

Bitcoin on Fire – significant daily gain shines

The price of Bitcoin rose above 61,000 US dollars on Tuesday – ahead of the highly anticipated meeting of the US Federal Reserve (Fed). In the morning, the oldest and best-known cryptocurrency was still trading below 58,000 dollars.

Specifically, the cryptocurrency rose to $61,331 on the Bitstamp trading platform in the late afternoon. This is the highest level since the end of August.

Investors are waiting for the US Federal Reserve, which will publish its interest rate decision on Wednesday. At least a rate cut of 0.25 percentage points is expected. But a reduction of 0.50 percentage points is also considered possible. According to CME Fed Tool While 61 percent expect the major interest rate hike, 39 percent of market participants see a reduction of 25 basis points.

“The prospect of falling key interest rates across the Atlantic could fuel investors’ appetite for risk again,” commented analyst Timo Emden of Emden Research. “One of the key questions will be whether the US monetary authority will allow itself to be carried away by an XL interest rate hike or will first carefully turn the interest rate screws downwards.” Since Bitcoin does not pay interest, it is characterized by monetary easing.

Bitcoin
(ISIN: CRYPT0000BTC)

DER AKTIONÄR is and remains bullish on Bitcoin in the long term. In the short term, however, investors who are considering a new entry should wait for the interest rate decision. Those who have invested will continue to hold on.

If the interest rate decision is positive for the market, it is worth taking a look at AKTIONÄR’s Crypto TSI Index. This allows investors to automatically invest in ten of the trendiest cryptocurrencies with just one product.

Reference to conflicts of interest

The CEO and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has directly and indirectly taken positions in the following financial instruments mentioned in the publication or derivatives related to them, which can benefit from any price development similar to that caused by the publication: Bitcoin.

Reference to conflicts of interest

The CEO and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has directly and indirectly taken positions in the following financial instruments mentioned in the publication or derivatives related to them, which can benefit from any price development similar to that caused by the publication: Bitcoin.

Note on conflicts of interest:

Shares of the Krypto TSI Index are held in a real depot of Börsenmedien AG.

Note on conflicts of interest:

The price of the financial instruments is derived from an index as the underlying value. Börsenmedien AG developed this index and holds the rights to it. Börsenmedien AG has concluded a cooperation agreement with the issuer of the securities shown, according to which it grants the issuer a license to use the index. Börsenmedien AG receives remuneration from the issuer in this regard.

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