Two new all-time highs (ATH) confirmed the month of October as a traditionally bullish month for bitcoin. The digital currency was trading above USD 125,000 on October 4, a record that it surpassed on the 6th when it reached USD 126,000.
There are several reasons that explain these new ATHs, highlighting among them the government shutdown in the United Statesin the midst of the fight between Democrats and Republicans. A situation to which several factors are added. This makes expectations of a new ATH are very alive among bitcoinersespecially while waiting for a new interest rate cut in the US, which would take rates to 3.75% annually.
Analysts also highlight the environment of economic and political uncertainty that reigns globally, a fact that is also taken as a driver of the price of gold. In fact, the precious metal also marked a new ATH this week.
At the regional level, news on regulation of the cryptocurrency ecosystem in El Salvador and the European Union stands out; while Paraguay emerges by positioning itself in the Bitcoin mining ranking.
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