Bitcoin crossed $ 1000, and the price of gold set an all-time high: what’s the reason

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The most famous cryptocurrency and valuable assets are on the rise

Photo: bitcoin news

The price of bitcoin has exceeded $ 10,000 for the first time since June and is steadily rising. At the time of the news release, the cryptocurrency was priced at about $ 10,200.

The last time Bitcoin crossed the psychological limit of $ 10,000 was on June 3. After that, there was a steady decline in costs. But during the last week, bitcoin has risen by about 11%.

According to Vijay Iyer, head of the business development department of the Luno cryptocurrency exchange, the key players discussed whether it was worth selling bitcoin to small market participants. This can push the price down and make it more attractive for big traders to buy more digital assets. But apparently this did not happen. And the current situation suggests that major players are resubmitting bitcoins. Together with small traders, efforts are being made to bring the price of bitcoin above $ 10,500. According to the expert, if this happens, most likely, the value of bitcoin will reach $ 15,000.

And at the same time, the value of gold reached the historical maximum. The price of one ounce of gold rose to $ 1944.71. The previous high – $ 1,921.18 – was established in September 2011. The precious metal is rising amidst rising tensions between China and the United States and a new upsurge in the incidence of coronovirus.

According to experts, the price of gold will continue to rise and may reach $ 2000 per ounce this week. This may result from a reduction in the base rate by the US Federal Reserve to negative levels, as well as a worsening of forecasts of US GDP growth in the second quarter.

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Earlier it was reported that the US financial regulator allowed banks to open accounts for users to store cryptocurrency assets. The Office of the Comptroller of the Currency believes that as digitalizing the financial markets, banks and other service providers act as financial intermediaries in the provision of payment, loan and deposit services to meet customer needs Should find new ways to

Read: Ministry will be able to verify the origin of cryptocurrency transactions

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Based on content from CNBC

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