Bitcoin zooms over $123,000 as crypto fans hail an ‘Uptober’ for the ages

Despite the fluctuations in the stock prices raised by the closure of the United States government, the price of bitcoin has been steadily climbing since last Sunday, with investors investing through a report on Thursday from JPMorgan analysts who expected to reach 165,000 dollars by the end of the year, noting the benefit of Bitcoin currencies as a hedge in evaluating the Fiat storms.

Crypting defenders have long argued that bitcoin can serve as a safe haven amid government uncertainty due to its decentralized structure, although the encrypted currency is often traded in Lockstep with traditional stock markets. But in recent months, investors in Bitcoin have poured into definition threats. JP Morgan analysts argued that Bitcoin is still less than its value compared to the other preferred hedge among investors: gold.

Other cryptocurrencies have also increased in recent days, as ETHEREUM increased by almost 9 % over the past week to $ 4,500.

Not everyone agreed with the formation of pink jpmorgan. Alex Bloom, founder and CEO of The Investment Advisor Two Prime, has described the recent Bitcoin gains as a “risky collection” in its joint comments with it luckOn the pretext that it may be caused by investors who expect the fourth quarter. However, Blume noted that even stock prices are heading up, which means that the market interacts with the broader monetary policy, including reducing interest rates in the field of federal reserves. “There is no other way to predict the future other than more money printing, which is a clear benefit for BTC,” he wrote.

Crypto climbing comes at a time when US organizational agencies continue to reduce the restrictions imposed on reaching the digital assets of the investor. The recent decisions taken by the Securities and Stock Exchange Committee allowed new boxes circulating on the stock exchange centered around cryptocurrencies such as XRP and Solana, in addition to creating an opening for different financial companies for nurseries on behalf of their customers.

One of the only opponents in the Supreme Education Council, Commissioner Caroline Crincho, arrested in a statement earlier this week that the new interpretation could open investors to risks, from theft to the embezzlement of their assets. “I am afraid that the assets of investors will fall into cracks,” she wrote.