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November 29, 2022
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Bitcoin (BTC) price exceeds R$ 257 thousand after rising 11% in the market

The Bitcoin price had an unexpected appreciation in the last 24 hours, and was quickly quoted above R$ 257 thousand this Friday morning (01).

The month of October started with an unexpected increase in the price of Bitcoin (BTC). In the last 24 hours, the cryptocurrency had a variation of more than 11% in the market.

According to data from CoinMarketCap, this Thursday morning (1) to cBTC rating quickly exceeded the value of R$ 257 thousand. Before this appreciation, Bitcoin was traded for around R$ 230 thousand, through the BTC/BRL pair.

In other words, Bitcoin appreciated more than R$27 thousand today. About that, in the BTC/USD pair, the price of the cryptocurrency was once again quoted at levels above US$ 47,000.

BTC quotation in September (Reproduction/CoinMarketCap)

Bitcoin price rises in the market

After reaching R$ 257 thousand on the market, the price of Bitcoin suffered a slight variation and now it is quoted at around R$ 253 thousand. With an unexpected price rise, the BTC rose after ending September with a cumulative devaluation.

In total, in September 2021 the price of Bitcoin dropped by more than 7%. According to CoinMarketCap, the BTC ended the month trading at around R$236,000 in the market.

A few hours later, a small appreciation made Bitcoin start October being quoted at R$ 243 thousand. After that, in a few moments the cryptocurrency jumped for more than R$ 257 thousand, still this Friday morning (1).

With this appreciation, Bitcoin renewed its weekly high recently. Now, the highest price reached by the BTC in the last seven days on the market corresponds to R$ 257,015.58.

Bitcoin (BTC) price exceeds R$ 257 thousand after rising 11% in the market 23
Bitcoin price today (Playback/CoinMarketCap)

What made the cryptocurrency increase?

Driven by a statement by the president of the US Central Bank, the cryptocurrency unexpectedly rose.

Recently, Jerome Powell, president of the Central Bank of the States, made a statement about the cryptocurrency market that may have reflected in the valuation of Bitcoin in the last 24 hours.

For Powell, the US should not adopt a prohibitionist policy on Bitcoin, as China did a few days ago. The president of the US Central Bank commented that the country should not restrict the use of cryptocurrencies.

While making a positive statement about the crypto market, the executive is developing a study on the creation of the digital dollar. powell asked parliamentarians to consult on the development of a digital currency by the USA.

After ending September in accumulated devaluation, Bitcoin starts October with a large and important appreciation. Right after reaching the support of R$257,000, the cryptocurrency is consistently holding above R$253,000 in the market.

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