JAKARTA - The price of Bitcoin opened mightily at the opening of the marketplace today. The Bitcoin (BTC) exchange rate reached 10,048 US dollars or around Rp.146 million per coin.
Launching the Coindesk market index, at 08.57 WIB, the price of Bitcoin rose to US $ 10.135 or a positive correction of 0.71 percent in the last 24 hours.
"The DeFi-led surge in Ethereum tokens, as the second largest cryptocurrency, appears to have penetrated the Bitcoin market," said John Ng Pangilinan of Singapore-based Signum Capital, Monday, July 27.
The upward trend in prices was also followed by Ethereum (ETH), which rose to its highest level for 13 months at 319 US dollars per coin, during the market close last week. Now the exchange rate of cryptocurrencies traded is currently corrected 9 percent higher in the last 24 hours.
The token, which powers the Ethereum blockchain, has gained 140 percent this year, leaving Bitcoin behind, up 40 percent on a year-to-date basis, well behind. With the increase in the price of Bitcoin, the value of this cryptocurrency has now managed to beat gold, which has traded around US $ 1,920 since 2011.
A massive injection of liquidity by the US Federal Reserve and negative yields on inflation-adjusted US bonds appears to have driven up gold, an inflation hedge. Meanwhile Bitcoin continues to attract the highest bidder from safe heaven in the last two months.
This keeps the price of Bitcoin and a number of cryptocurrencies on hold at around 9 US dollars. Some investors expect Bitcoin to chart a stronger advance in the near term.
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