From Financial Modeling Prep: 2024-12-18 04:53:49

Bitcoin hit a record high of ₹107,000 driven by speculation of central banks and institutions adding it to their reserves for market stability. Institutional interest and Bitcoin-backed ETFs also contributed to the surge. Investors turn to Bitcoin as a hedge against inflation and low yields in traditional markets.

Analysts warn of potential volatility despite Bitcoin’s strong upward trend, citing regulatory changes and profit-taking risks at this historic high. Tracking Bitcoin’s performance against other cryptocurrencies and assets can provide valuable insights for investors.



Read more at Financial Modeling Prep:: Bitcoin Hits Record High on Strategic Reserve Optimism