Cryptocurrency bitcoin has seen a clear rise in recent days.
“US Secretary of the Treasury Scott Bessant announced last week that the US would increase its own bond repurchases in order to lower longer-term interest rates. This resulted in the dollar depreciating quite a lot. Usually, when the dollar weakens, Bitcoin rises, because it is thought that it provides security for currency fluctuations”, the stock exchange reporter Iina Rantala Directly from Kauppalehti Economic morning on Wednesday.
However, Bitcoin, which is approaching $80,000, is still far from the record readings of $120,000 seen last year.
At that time, according to Rantala, there was no clear reason for the bill.
“Perhaps the investors then started to fear that the peak has now been reached and at some point we have to go down. Then everyone started selling”, Rantala reflected.
On the other hand, according to Rantala, the decline could also have been supported by the geopolitical situation.
However, in recent days, Bitcoin has clearly risen. The reporter who hosted Wednesday’s Economic morning Jussi Rosendahl asked Rantala if bitcoin has now bottomed out.
“Until now, analysts have been a bit skeptical about whether the bottom really was, even though we have risen quite well now. Over the last year, Bitcoin has fallen by about 30 percent. Compared to that, the rise of the last few days has already been really hard,” Rantala said.
You can watch Wednesday’s Economic Morning in its entirety below.
Correction to the video: The CEO of Honkarakenne is called Magnus Hindström, not Magnus Hindberg, as was erroneously stated in the program.