Bitcoin Reaches New High; Ethereum and Dogecoin Rise
Major cryptocurrencies increased on Wednesday because investors expect interest rate cuts.
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Cryptocurrency markets had big gains on Wednesday. People were excited about possible interest rate cuts. Bitcoin rose 3.37% to $123,500.92.
Ethereum went up 3.12% to $4,724.41. Other coins like XRP and Solana also performed well. Bitcoin reached a new record of $124,457 during the night.
The total crypto market value reached $4.2 trillion. Stock markets also closed at record highs. Traders believe there is a 94% chance that central banks will cut rates by 0.5% in September.
This news made investors more confident about buying risky assets like cryptocurrencies. Analysts predict Bitcoin will continue rising.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/08/47111980/bitcoin-hits-all-time-high-ethereum-dogecoin-spike-analyst-says-parabolic-phase-imminent-fo