According to sources from Reuters, 2024 is closing out with many notable fluctuations in the coin market. The price of Bitcoin has decreased by 2.30% to $92,211 after hitting a record peak of $108,379.28 on December 17. Nevertheless, Bitcoin still recorded an impressive growth rate of about 116% this year.
Alongside Bitcoin, altcoins are also experiencing notable movements. However, the strong volatility of the global financial market has created many challenges. This is something investors need to consider when participating in the crypto market.
Further analysis shows that the value of the US dollar has surged in recent weeks, reaching its highest level in two years. The interest rate policy of the Federal Reserve and the new financial policy of President Donald Trump's administration are expected to continue to profoundly affect both the currency market and the coin market in the coming time.
Meanwhile, attention is also focused on the actions of the Bank of Japan (BOJ). Predictions about the BOJ potentially raising interest rates soon have caused the dollar/yen exchange rate to drop in traders' expectations. A government intervention in the market from Japan is also being closely monitored.
In addition, the euro is also on a 5.7% decline against the US dollar after the European Central Bank (ECB) has cut interest rates four times this year. The ECB's interest rate adjustments are likely to affect the value of coins in the region.
These developments indicate that the coin and international financial markets are facing many significant changes. Investors need to continue updating information and analyzing the situation carefully to make effective investment decisions in the new year. Stay tuned for the latest analyses and news from Reuters to not miss opportunities and challenges in the global market.
