The Bitcoin currency broke another record. These are the reasons

Bitcoin broke another record this morning. The price of the cryptocurrency jumped to 106 thousand dollars, and now stands at 104.5 thousand dollars per unit. In the last week, the currency rose by 5.2%, and since Trump’s victory in the US elections, when the last rally in the currency began, it jumped by about 53%. The reason for this is the expectation in the market that the Trump administration will be more sympathetic towards the decentralized currency market, and the regulation will be more favorable .

Another figure behind the increases is the Fed’s interest rate decision on Wednesday this week. Market estimates are almost consensus (96%) for an interest rate cut of a quarter of a percent. The interest rate cut is expected to have a positive effect on the currency, as this may weaken the dollar, which has a positive effect on the cryptocurrency.

In addition, the American NASDAQ 100 index announced the planned entry of MicroStrategy into the index. The company, which began as a software company for the corporate market, has in recent years become a kind of Bitcoin holding company. As of the end of the third quarter, MicroStrategy held 252 thousand Bitcoin coins, with a current value of Their purchase cost over the years was 25.7 billion dollars About 9.9 billion dollars.