Bitcoin jumped to the level of 7 22,700 after the federal decision

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Mumbai, Ta. Thursday, December 17, 2020

After being extremely volatile in the last 24 hours, the cryptocurrency Bitcoin hit a new record high of over ડો 200 per unit. Bitcoin has rebounded as a result of increased interest from institutional investors and steps being taken by the world's central banks to increase liquidity in their markets. Bitcoin prices have soared as the US Federal Reserve maintains a liberal monetary policy, market sources said.

Other cryptocurrencies also saw an increase behind Bitcoin. The current week has seen a twenty percent increase in Bitcoin.

Bitcoin prices have risen more than 150 per cent this year following a resurgence. Along with Bitcoin, other cryptocurrencies such as Ether, Stellar, XRP also saw an increase on various exchanges.

Bitcoin was eroded in 2016 after hitting an all-time high of ૯૬૬૬ 15. The growing interest in Bitcoin as an investment tool in the Corona era is evident from the price direction. Hedge funds are seen betting in this alternative asset class, taking advantage of the fact that most of the world's central banks are releasing financial stimuli.

Analysts in the US have been expressing positive views on Bitcoin and investors are expecting Bitcoin to be included in their asset allocation in the new year after Koro.

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