Bitcoin rises again, with renewed buying flow from MicroStrategy

Bitcoin was trading higher on Wednesday (27) after correcting recent gains, amid a renewed buying flow from MicroStrategy and continued enthusiasm for the government of US President-elect Donald Trump. Shortly before 5 pm (Brasília time), bitcoin rose 5.16%, to US$ 96,567.41, while ethereum advanced 8.85%, to US$ 3,584.72, at the same time, according to Binance. A recent buying spree by MicroStrategy could be a bullish factor for bitcoin. The company, which is the largest corporate holder of the token, has been increasing its volume in recent days, financing its purchases with the sale of shares and convertible bonds. Despite this, it’s hard to think of any catalysts that could push bitcoin past $$ 100K between now and the end of 2024, analysts say. Bitcoin has been trading well below Friday’s record high of $$ 99.830, just shy of $$ 100K. Traders were overly enthusiastic about the cryptocurrency and are now taking profits on recent gains following Donald Trump’s victory in the US presidential election, says Pepperstone’s Chris Weston. The chances of bitcoin falling to $$ 90K before reaching $$ 100K “have certainly increased,” he reflects. The creation of a strategic bitcoin reserve in the US government remains relatively unlikely, says Julius Baer, ​​as the Federal Reserve (Fed) is also likely to be on board with such an approach. If the strategic reserve were to be implemented at the national level, the effects of pricing would add billions to spot demand. However, the need for such a reserve is uncertain, other than the fact that the president-elect is a supporter of cryptocurrencies, explains

Source: CNN BRASIL