Today, June 28, the price of bitcoin remained almost unchanged, but it has suffered significant losses over the past month. The nervousness of traders is caused by the expectation of a large-scale distribution of tokens by the bankrupt Mt Gox exchange, which holds the potential for further price declines. Writes UNN with reference to Investing.
Tensions in the cryptocurrency markets remain amid expectations of a key US inflation index to be released on Friday, which is likely to influence future interest rates. Bitcoin is up 1.2% over the past 24 hours, reaching $61,515.2.
Meanwhile, concerns continue over the planned distribution of tokens stolen from the Mt Gox exchange in 2014, with fears that this will lead to a large-scale sell-off and a possible drop in bitcoin prices.
Ether and other altcoins also showed growth, although they suffered losses in June. The strengthening of the dollar before the release of the PCE price index also affects cryptocurrency prices, as traders prefer the safer dollar in the face of uncertainty.
This price index is important for the Federal Reserve and determines expectations for interest rates, which are key for cryptocurrency markets, which traditionally do better when rates are low.
Recall
According to the investment company Bernstein, the total value of spot exchange-traded funds for bitcoin and ether could grow to $450 billion in the next few years, and the bitcoin rate will reach $90 thousand by the end of 2024.