The value of Bitcoin increased to $ 55,358 (+10.13%), shows a reference on the Binance platform at 15:24 Bulgarian time. Minutes later, the price of the cryptocurrency rose further to the level of 55,406 thousand (+10.43%).
On Monday, the value of Bitcoin during the morning trading session decreased by 11.08% and fell to $53,868. In the hours that followed, the price of the cryptocurrency fell to $49,000 for the first time since February 14, but only briefly, according to data from the same platform.
Last week, the value of Bitcoin reached $69,462, which was a 2.6% increase over the previous period. This was its highest level since mid-June, after US Republican presidential candidate Donald Trump gave a speech in support of cryptocurrencies.
Furthermore, expectations of interest rate cuts by the US Federal Reserve boosted investor sentiment, Bloomberg explained.