Digital gold, which is known as Bitcoin, is recording 119 thousand dollars today, and it seems that at the moment it will start flying, attributing this to short-term and medium-term reasons.
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One of the most important short-term reasons is the decline in the dollar and the possibility of an interest rate cut next month.
As for the medium-term reasons:
1.US President Trump's interest in cryptocurrencies,where he owns more than 70% of his fortune,is cryptocurrencies worth 11 billion dollars, while the market capitalization of the top three currencies BTC, ETH, XRP is three trillion dollars .
2. President Trump has adopted a more conservative fiscal spending policy.
3.The entry of investment funds into trading on global stock exchanges recently and their rush to buy bitcoin cryptocurrencies.
4.US President Trump warned the BRICS countries to mint their own currency by raising duties on those countries by 100%, while BRICS has not taken any step to mint a new currency yet and there is talk of dealing in cryptocurrencies as an alternative to the dollar in commercial transactions between the BRICS countries in addition to local currencies between those countries.
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5.Bitcoin is considered one of the safe havens in light of the accumulation of global debt, especially for the largest economy in the world, the US economy, whose indebtedness reached 37 trillion dollars, and there are recommendations from companies with trillion-dollar assets to switch to digital currencies, namely BlackRock.
6.The tariffs imposed by Trump on the countries of the world make cryptocurrencies a safe haven in light of expectations of future declines on US stocks, some of which reached 40 times their real value, in light of intense competition between US and Chinese technology companies, especially the great development on artificial intelligence programs and applications.
7. Trump opened the doors of pension funds to digital currencies.
Therefore, it is expected that by the end of this year bitcoin will reach 150 thousand dollars.
