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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Bitcoin may end September with record growth

September, 30 2024
watermark Economic news

Since the beginning of September, bitcoin has risen in price by 12.3%, which was the best dynamics for this month since its launch in 2009.


The growth of the cryptocurrency exchange rate was supported by China's measures to stimulate the economy and expectations of a reduction in the key rate of the US Federal Reserve System.


The current quote of the BTC/USD pair is $64,437. Despite a local decline from the area of $66 thousand, since the beginning of the year bitcoin has added 53.3%, remaining 10% below its record high of $73,798 recorded in March.


China has recently announced a number of incentives, including lower short-term interest rates and bank reserve requirements, aimed at supporting the economy. In turn, the US Federal Reserve lowered its key rate for the first time in four years, which increased expectations of further policy easing.


And the combination of Chinese incentives and monetary easing in the United States will lead to an increase in global liquidity, thereby creating a favorable environment for bitcoin and other risky assets.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.