Amid the moves of central banks worldwide shaking financial markets, the coin market is not exempt from this turmoil. Reuters reports that Bitcoin currently stands strong at a price of $95,660, down slightly by 1.2% this month after hitting a record peak of $108,379.28 on December 17. However, looking back over the entire year of 2024, Bitcoin has recorded an impressive growth of 125%.
A highlight in the report from Reuters is that while the Japanese Yen is fluctuating near a 5-month low against the US dollar, Bitcoin continues to attract investors, clearly demonstrated by its annual growth. In the context of differing monetary policies between the Bank of Japan (BOJ) and the Federal Reserve (Fed) causing fluctuations in the foreign exchange market, coins, especially Bitcoin, remain an attractive option for investors seeking profit.
Notably, while Bitcoin seems to dominate the spotlight, altcoins are still trying to find their footing in this volatile market. The price fluctuations of the dollar also significantly impact the value of altcoins, but the investment potential in the crypto sector remains wide open.
The differences in policy between major economies and the cautious market response to statements from lawmakers, as seen through the remarks of BOJ Governor Kazuo Ueda and Fed Chairman Jerome Powell, are creating a challenging yet opportunity-filled environment for coin investors.
To learn more about global economic fluctuations and their impact on the coin market, please follow the news and in-depth analysis from Reuters.
Source: Reuters.
