bitcoin price
Bitcoin and other digital currencies made a strong recovery during trading today, Tuesday, after the strong losses they incurred during the past few days, but the digital currency market is expected to be affected by the US Federal Reserve’s monetary policy decisions tomorrow, Wednesday.
During today’s trading, the bitcoin price, which is the most popular digital currency by market value, increased by 8.54% and scored about $36,379.79, bringing its capital value to about $689,017,159,590, and the daily trading volume on Bitcoin increased by $40,481,235,456.
It should be noted that the cryptocurrency market, especially bitcoin price, has recorded strong declines during the past few days, coinciding with concerns about the supposed Russian ban on digital currencies, which in turn may lead to a strong negative impact on the industry due to the importance of Russia as one of the important countries in this industry.
Also, the markets’ anticipation of the US Federal Reserve’s decisions on monetary policy tomorrow, Wednesday, may have a strong impact on bitcoin price and various digital currencies, especially if the decisions include a hint of raising US interest rates soon, because this pushes investors to resort to the US dollar as a better investment haven.