Bitcoin price jumps above $64,000
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| Bitcoin Price Today |
Bitcoin price has continued to rise since trading on Friday, August 23, 2024. Bitcoin witnessed a noticeable rise, coinciding with the US Federal Reserve Chairman Jerome Powell, who delivered his annual speech at the symposium held by the bank in Jackson Hole, Wyoming, USA.
During the meeting, Powell indicated the Federal Reserve's direction towards reducing interest rates, which led to an increase in the price of Bitcoin by more than four thousand dollars, equivalent to about 7%, exceeding the levels of 64 thousand dollars, and its market value reached 1.272 trillion dollars according to the Coin Marketcap platform.
Ethereum coin took advantage of the rise in Bitcoin. It rose by about 7% during yesterday's trading to a level exceeding 2780 dollars, while some alternative cryptocurrencies achieved a good increase exceeding 20%, such as the CHR currency and the Hot currency.
According to Jerome Powell's speech, the timing and pace of the interest rate cut will depend on incoming data, evolving expectations, and the balance of risks, in addition to inflation falling significantly, as the central bank can now focus on supporting the strong labor market.
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