The expert named the reasons for the rise in the cost of bitcoin
On the night of March 20, the cost of bitcoin exceeded $86 thousand, which became an important event for the cryptocurrency market. This opinion was shared by Rafik Mamin, CEO of Minestream, in an interview with Izvestia.
"The key factor for bitcoin's growth was yesterday's Fed meeting, at which the regulator left the key rate unchanged. This signals the continuation of the current monetary policy, which strengthens investors' interest in alternative assets, including bitcoin. Expectations of a possible rate cut in the coming months are also contributing to the growth of the cryptocurrency market," he explained.
According to him, after the approval of spot bitcoin ETFs, institutional capital continues to enter the market. Major players are increasing their cryptocurrency assets, which creates additional demand.
In addition, the policy of the US administration, focused on the development of the crypto market, also inspires confidence in investors. Recent statements about the imminent formation of the US digital reserve support the demand for bitcoin, Mamin added.
"In the short term, bitcoin has the potential to grow to $90-92 thousand. However, if there is a correction in the market, the support level can be expected around $ 83 thousand. In the coming weeks, the dynamics will depend on the activity of institutional investors, the Fed's policy and the general state of the global economy," the source concluded.
Earlier, on March 7, US President Donald Trump signed a decree on the creation of a strategic bitcoin reserve in the country. This is reported by the White House. The strategic reserve will include cryptocurrency, which is currently owned by the United States.
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