Analysts explained the growth of bitcoin rate

The main factor in the growth of bitcoin and the entire range of cryptocurrencies was the start of the cycle of rate cuts in the United States from September 18, Oleg Kalmanovich, chief analyst at Neomarkets, told Izvestia on December 16.

Earlier in the day, bitcoin (BTC) updated its historical maximum value at $106,648.

"The main factor in the growth of bitcoin and the entire spectrum of cryptocurrencies was the start of the cycle of rate cuts in the United States since September 18. The market began to grow back in early 2024 on expectations of rate cuts from the Fed (Federal Reserve. - Ed.) due to slowing inflation in the next couple of months, but in the spring-summer surges in consumer prices postponed this decision until the fall," said Kalmanovich.

According to him, the U.S. presidential election was also a deterrent for investors who preferred to invest in dollars before the announcement of the winner of the presidential race. However, after the victory of Donald Trump's team, the capital began to leave again in risky assets, including cryptocurrencies, the expert added.

The analyst specified that investors are interested in how quickly rates will return to the Fed's target level of 2.9%.

"The current rate is 4.5-4.75%, and the next decision will be on December 18, where with a 97% probability a reduction to 4.25-4.5% is expected. However, the current rate cut is already "priced in", the key here will be to listen to Fed Chairman Jerome Powell's commentary on how concerned he will be about the extreme gain in manufacturing inflation and what the Fed's rate plans are for early next year. The more confident Powell is that the current trend of rate cuts is justified, the more confident the crypto world as a whole will feel," he explained.

Crypto has a place: bitcoin was prescribed further growth above $120 thousand.

Which allowed him to exceed the round mark of $100k for the first time in history.

In turn, BitRiver financial analyst Vladislav Antonov also noted that optimism in the market is given by the support of the cryptocurrency agenda by the new US administration.

"Candidates who have a positive attitude to cryptocurrencies are being selected for key government posts. At the same time, there are reports that the Trump family is building up positions in altcoins such as ETH, AAVE and LINK. In 2025, we see the target area for bitcoin at $160-170 thousand. At the same time, falls below $90 thousand are unlikely," the expert concluded.

In September, the director of the Association of Industrial Mining Sergei Bezdelov at the session "Industrial Mining" of the Eastern Economic Forum said that in 2023 in the territory of Russia was namaineno 54 thousand bitcoins. They can bring the treasury taxes in the amount of 50 billion rubles on the horizon of several years.