•Higher chances of US interest rate cut next week
•Expectations of pumping more investment liquidity into the digital market
Bitcoin prices rose during Thursday's trading, maintaining their gains for the second day in a row, after regaining trading above the historic barrier of $100,000 again.
The world's largest cryptocurrency, Bitcoin, is poised to hit new record highs, thanks to rising prospects of a US interest rate cut next week, paving the way for more new investment liquidity to enter the digital market.
Price overview
• Bitcoin price today: On the "Bitstamp" exchange, the price of the digital currency "Bitcoin" rose by about ($683), equivalent to 0.7%, to ($101,921), from the opening price of today's trading at ($101,238), and recorded its lowest level at ($100,215).
•Bitcoin prices settled up 4.75% on Wednesday on the Bitstamp exchange, resuming gains that had been halted for two days in a correction from an all-time high of $103,647 per token.
Cryptocurrency market cap
The market cap of cryptocurrencies rose more than $25 billion on Thursday to a total of $3.820 trillion, amid the current rally in bitcoin prices and the rise in prices of ethereum and other major coins.
Bitcoin Performance Predictions
“Once sell orders are cleared around current historical levels, this price could go higher, and very quickly,” said Stephen McClurg, founder of digital asset investment firm Canary Capital.
McClurg added that he expects the price of Bitcoin to reach $120,000 by Christmas.
