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So what is driving this revival in bitcoin . Erin delmore reports. Its been more than two years since we have seen Bitcoin Cross the 60,000 mark, but the cryptocurrency did just that on wednesday, even soaring to 64,000. It may be closing in on its all time high of 68,000. There are a few reasons why crypto enthusiasts are fired up About Bitcoin these days, newly approved Spot Bitcoin Exchange traded funds have investors buzzing and there is a change coming up in april when bitcoin miners start getting less bitcoin for their efforts and the spectre of lesser supply fuels more demand. 0ne lesser supply fuels more demand. One more thing than any background here, the Federal Reserve is expected to cut Interest R ....
more than 3/10 of a percent. this is what they call a bull run. the market s been on the upswing since october 2022, and it s thanks to a few tailwinds. among them, an outperforming tech sector and a resilient labour market. the federal reserve has a role too. so far it s been able to cool inflation without tipping the economy into a recession. that s called a soft landing and it s buoying wall street. stocks are rallying in anticipation of interest rate cuts that the fed has signalled this year, which would let interest rates fall from a 22 year high. when interest rates go down, it makes it cheaper for businesses and individuals to borrow money. so spending increases and usually that makes stock prices go up. meanwhile, it s a different story for the chinese stock markets, which have been struggling in the new year. chinese premier li qiang pledged to take forceful and effective action to support market confidence. shares in mainland china and in hong kong have been h ....
among them, an outperforming tech sector and a resilient labour market. the federal reserve has a role too. so far it s been able to cool inflation without tipping the economy into a recession. that s called a soft landing and it s buoying wall street. stocks are rallying in anticipation of interest rate cuts that the fed has signalled this year, which would let interest rates fall from a 22 year high. when interest rates go down, it makes it cheaper for businesses and individuals to borrow money. so spending increases and usually that makes stock prices go up. meanwhile, it s a different story for the chinese stock markets, which have been struggling in the new year. chinese premier li qiang pledged to take forceful and effective action to support market confidence. shares in mainland china and in hong kong have been hovering at their lowest points in as many years. this comes despite somewhat upbeat signals at the end of last year. for more on what we can expect from ....
"Do I think crypto is dead? No, I think there's a lot of people throwing gasoline in a crowded theatre and yelling fire," Fundstrat's Tom Lee said. ....