Bitcoin Hits Record High at $125K Despite Early Sell-offs and US Uncertainties
Bitcoin has hit a new record high, reaching 125,426 USD (106,137 EUR) on Bitstamp. This comes despite some early investors selling their holdings and political uncertainties in the US. The search for a single institutional culprit behind the recent price decline has been unsuccessful.
Institutional investors are largely supporting Bitcoin's price increase. They are buying more of the cryptocurrency, contributing to its recent gains. Meanwhile, some early holders are cashing out and selling their Bitcoin. However, no single institutional investor has been identified as the main cause of the current price decline.
Historical data shows October has been a strong month for Bitcoin. Since 2013, there have been only two years with a decline in this month. Low interest rate expectations from the US Federal Reserve are also driving up Bitcoin prices. Political uncertainties in the US, such as the government shutdown, are pushing investors towards alternative investments like Bitcoin.
Bitcoin's price has reached an all-time high, with institutional investors playing a significant role in its increase. Despite some early investors selling their holdings, the overall trend remains positive. The cryptocurrency continues to benefit from political uncertainties and historical seasonal trends.
