As of this writing, the price of Bitcoin is $19445.67, an increase of 2.29% in 24 hours. This rise is accompanied by the Bank of England’s announcement of pumping liquidity into the market, which led to a rise in financial markets, including digital currencies and Bitcoin.
Bank of England Reinforced Actions – Is It Time to Buy Bitcoin?
Despite the high rate of inflation in England, the Bank of England pledged to pump more liquidity through the purchase of British government bonds, which injects important liquidity to investors, who can buy other financial assets such as Bitcoin, for example, which made Bitcoin and other financial assets know some rise.
Monetary policies of central banks have an important impact on financial assets. The rise or fall of the central interest rate significantly affects the financial markets, and the injection of liquidity and the central bank’s purchase of government bonds has a strong impact on prices in the financial markets.
Bitcoin price hike
Bitcoin is up 2.29% in 24 hours, as of this writing, with significant gains. It is true that we are still in a bear market, but the price of Bitcoin is expected to fluctuate between 20,000 and 25,000 USD in the short and medium term, and bring good gains to investors.
Bitcoin needs very good news to make significant gains, so far only relative gains are expected for Bitcoin. The influence of the Bank of England by injecting more liquidity into the market enabled Bitcoin to make reasonable gains.
Is it a good time to invest in bitcoin?
Despite the rise that Bitcoin achieved in 24 hours, we are in a bear market, and the cryptocurrencies have not yet achieved their rocket launch, as happened at the end of 2020 and the beginning of 2021. In this case, it is better to carry out trading operations in Bitcoin or invest in the short and medium term Instead of investing in the long term. There is still uncertainty and risk in the cryptocurrency market.
Bitcoin remains a unique and wonderful digital currency, as it is called digital gold due to the great importance that this encrypted currency has become among people, but at the present time, with the fluctuation of financial markets, it is advisable to trade Bitcoin in the short and medium term and take profits, instead of investing at the long term.
Not enough rise for bitcoin
Despite this relative rise of Bitcoin, it is not enough to achieve significant gains for investors and owners of this digital currency.
One of the reasons why many financial analysts believe that the real rally will not start until the US Federal Reserve begins to ease monetary policy. The inflation rate in the United States of America in August is high at 8.3% on an annual basis, which made the US Federal Reserve to raise the central interest rate by 0.75% and it is now at an interest level between 3 and 3.25%. If the US Federal Reserve does not raise the central interest rate in its upcoming meetings, and if the inflation rate decreases in the United States of America, we may see an important rise in the financial markets, including digital currencies and bitcoin.
As the largest economic power in the world, the decisions taken by the United States of America and its Federal Reserve, have a more severe and important impact on the financial markets.
Buy other digital currencies
Other than Bitcoin, there is a wonderful and unique digital currency TAMA And it is the supporting and supporting currency for the Tamadoge platform for metaverses and tokens that cannot be exchanged for NFT and play for profit, so that you can raise animals in the form of NFT, and train them to fight in metaverses with the possibility of winning a lot of real money.
The strength and importance of the Tamdoge platform makes its digital currency TAMA A unique and wonderful currency for investment and purchase. This coin is now in the public trading stage on the OKX platform, after it achieved impressive successes in the initial sale phase, as it managed to raise more than 19 million US dollars.
Financial analysts expect significant rises for this revolutionary and wonderful digital currency, which is expected to become one of the most important digital currencies in the world.