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The Bitcoin price is rising again above $115,000. The entire crypto market is also posting gains. Institutional investors are currently buying heavily. A trade dispute between China and the US appears to be ending. At the same time, a change of course by the FED could lead to massive price growth.
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Bitcoin Price Rises above $115,000
The Bitcoin price is rising again above $115,000. Shortly after midnight, the largest cryptocurrency restored this market value for the umpteenth time. BTC last traded at this price around two weeks ago – on October 14.
- Bitcoin
(BTC) - Price $112,342.00
- Market Cap
$2.24 T
Since then, political influences have predominantly affected the crypto market. The smoldering trade dispute between China and the USA broke out again. New uncertainty in the financial markets caused fear. Prices plummeted rapidly.
Meanwhile, the crypto market is dominated by green numbers. Among the CMC100, price gains predominate in both the daily and weekly trends. The entire market rose by 1.96 percent over the last 24 hours to a value of 3.89 trillion US dollars.
Three weekly winners are currently clearly standing out from the top 100. Newcomer Humanity Protocol (H) rose by 137 percent over the last seven days, making it into the 100 largest coins for the first time.
The project focuses on providing digital identities that are created using biometric signatures – a concept that is strongly reminiscent of Worldcoin (WLD).
The AI platform Virtuals Protocol (VIRTUAL) also recorded remarkable gains. In the weekly trend, there was a price gain of 76 percent. VIRTUAL is trading at $1.42.
Zcash (ZEC) can continue to increase its price gains. The privacy coin rose by 42.23 percent in the weekly trend. The cryptocurrency is now 542 percent in the plus in the monthly trend. ZEC is trading at $357.
That’s why Optimism is Growing in the Crypto Market
The CMC Fear & Greed Index shows: The mood is growing significantly on the crypto market. Only yesterday, the market was said to have been fearful. Since then, it has risen by four points into the neutral range. It is now at 42 out of 100 points.
But why is the optimism of the crypto market currently increasing? The trade dispute between China and the US could be coming to an end. For months, representatives of both states have been struggling for a solution, but have so far been unable to find a consensus.
According to the latest media reports, both governments have now agreed on basic content that should soon be manifested in an agreement. On Friday, October 31, the two presidents Trump and Xi will meet in South Korea. They are expected to define the details of the agreement.
During a meeting in Malaysia, “a basic consensus was recently reached on agreements to resolve the respective concerns.” Both sides are willing to approach each other.
According to an analysis by CoinShares, the monetary policy of the US Federal Reserve FED should also have a positive effect on the market. Experts expect key interest rate cuts. These could flood additional money into the market through favorable loans.
In anticipation of further key interest rate cuts, institutional investors have therefore recently invested large sums.
“However, the lower-than-expected inflation data (CPI) released on Friday helped to strengthen confidence that further interest rate cuts are likely this year,” analyzed James Butterfill of CoinShares.
Bitcoin investment products therefore already grew by 931 million US dollars net within the last week. The largest share was made up of funds from the USA (843 million). German investors also struck (502 million). Switzerland, on the other hand, caused outflows of 359 million US dollars.
Crypto entrepreneur Arthur Hayes expects a fundamentally new strategic orientation of the FED. Bitcoin and Co. must therefore expect massive profits. For BTC, for example, it would be easy to rise to one million US dollars.
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