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The influx of investments into the stock markets contributed to the strengthening of the Bitcoin exchange rate
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The influx of investments into the stock markets contributed to the strengthening of the Bitcoin exchange rate

Dec 19, 2023

On Tuesday, Asian stock markets showed growth, responding to the Bank of Japan's announcement about continuing its policy of negative interest rates. The Japanese yen weakened against the dollar by 1.3%, while the key Japanese index, Nikkei 225, reached a two-week high, as reported by Bloomberg.

The yield on government bonds decreased, leading to increased investments in the technology sector. European stock markets also opened positively. The pan-European Stoxx 600 index rose by 0.3%, while futures on American stocks remained largely unchanged. The cryptocurrency market is also showing strengthening.

In the last 24 hours, Bitcoin (BTC) has risen by 6.3%, trading at around $43,217. Ether (ETH) increased by 5.4%, reaching $2,244. Cryptocurrencies Solana (SOL) and Avalanche (AVAX) jumped by more than 10%, reaching $75.25 and $40.93 respectively. Litecoin (LTC) strengthened by almost 4%, trading at around $71.28. Over the year, the value of Bitcoin has increased by 160%.

Anthony Pompliano, co-founder of Morgan Creek, stated last week that BTC is entering a new bullish cycle. Its recent drop below $41,000 was short-lived. Bitcoin quickly recovered its positions and, according to forecasts, could reach $45,000 by the end of December.

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