No rest for cryptos. In the heart of summer, August 14, the queen of cryptocurrencies, Bitcoin, recorded a new record, to 124,457 dollars (106,500 euros). Since this new peak, this digital asset known for its volatility has seen its course fall around $ 115,000 this Tuesday, August 19. However, since the beginning of the year, its progression has been largely positive, with an increase of 23%.
A “Bull Run” (or period of marked increase, in French) which even started earlier, in the fall of 2024, with the return of Donald Trump to the White House, since the Bitcoin course has since exploded 71.5% In dollars, carried by the pro-Crypto program of the American president. And it is the implementation of this program that seems to lead Bitcoin from record to record. Latest example: the highest history of August 14, caused by the adoption Thursday, August 7, of a presidential decree on the “democratization of access to alternative assets”. “A text that authorizes American pension funds to be able to invest the savings of future retirees in cryptocurrencies”, Details Lukas Enzersdorfer-Konrad, Deputy Managing Director of Bitpanda.
An active ingredient by a favorable macroeconomic environment
A decision which gives even more legitimacy to digital assets, and which should also have a massive impact on the purchases of cryptocurrencies, which would still boost their course, Bitcoin in mind. For the second half of the year, it is difficult to anticipate what other political decisions of this type could still make its value increase. On the other hand, two macroeconomic events will play in its favor.
First, the drop in the dollar, which is currently exchanging around 0.85 euros, in free fall of 11% since January 1. However, Bitcoin and Dollar often evolve in the opposite direction: when the second loses its value, the first is gaining ground. Indeed, the drop in greenback, perceived as a refuge value, leads investors to turn to other assets, and in particular Bitcoin, whose limited quantity should theoretically protect it from losing in value in time.
Then, the start of the school year could also be marked by the announcement of a first drop in rates on the side of the American Federal Reserve (Fed). A decision that would also give a boost to Bitcoin, since it would lower the yield of safe investments (obligations, booklets, etc.), “This leads investors to turn to more risky, but potentially more remunerative investments, such as cryptos”explains Lukas Enzersdorfer-Konrad.
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