•MicroStrategy executes new round of Bitcoin purchases
•The Federal Reserve is about to cut US interest rates
Bitcoin prices fell during Wednesday's trading for the first time in the last four days, giving up their all-time high, due to correction activity and profit-taking, in addition to risk aversion ahead of the Federal Reserve's decisions.
The US Federal Reserve is preparing to make its third interest rate cut this year, which could help pump more new investment flows into the digital asset market.
Price overview
• Bitcoin price today: On the "Bitstamp" exchange, the price of the digital currency "Bitcoin" fell by about ($3,041), equivalent to 2.9%, to ($103,173), from the opening price of today's trading at ($106,214), and recorded its highest level at ($106,523).
•At Tuesday’s settlement on the Bitstamp exchange, Bitcoin prices rose 0.25%, marking its third consecutive daily gain, and hit an all-time high of $108,364 per token.
Cryptocurrency market cap
•The market cap of cryptocurrencies fell by about $110 billion on Wednesday to a total of $3.805 trillion, amid the current corrective decline in Bitcoin prices.
•The market cap of cryptocurrencies hit an all-time high of $3.975 trillion on Tuesday, December 17.
Bitcoin Performance Predictions
Here at FX News Today, we expect: If the Federal Reserve’s comments are more pessimistic than what is currently expected in the markets, the chances of additional US interest rate cuts will increase, which will lead to Bitcoin prices rising to new record levels and the next target of $110,000 per crypto unit.
