This week the Bitcoin (BTC) ecosystem was marked by several important events related to the market and finances. On the one hand, the pioneering digital currency continued to advance its rally, setting a new all-time high of more than USD 108,000.
However, this time the enthusiasm was short-lived, because by December 18, BTC registered a drop that took it back to levels below USD 100,000. The reasons for the collapse can be traced back to the United States Federal Reserve (Fed). Although the organization made a new cut in interest rates, its president Jerome Powell accompanied the announcement with words of rejection to the possibility of creating a bitcoin reserve.
The official made references to the legal reasons that prevent the Fed from having bitcoin and his words caused a stir among investors, leading the digital currency downwards. This, at the same time The agreement signed by El Salvador was announced with the International Monetary Fund (IMF).
To obtain a loan, Nayib Bukele’s government made some concessions related to the adoption of BTC, which some have understood as capitulation, although it also made new purchases of the digital currency to add to reserves. Meanwhile, in Venezuela data was released showing a decrease in the use of the dollar and China Expected to Get Back in the Bitcoin Game.
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