Bitcoin is approaching the $90,000 barrier at the beginning of the new year

Cryptocurrency prices witnessed a noticeable rise during today’s trading, with investors moving towards high-risk assets following the US Federal Reserve’s decision to reduce interest rates last month, and rising expectations of them being reduced two additional times during the current year.

Bitcoin recorded an increase of 2.6% within 24 hours, approaching the level of $90,000, as it was traded at $89,703.96, accounting for about 58.9% of the total market value of cryptocurrencies.

The price of “Ethereum” also increased by 1.77% to reach $3,096.41, while “Ripple” recorded an increase of about 5.65% to $1.9910, and the total market value of digital currencies reached $3.02 trillion with a daily trading volume of $68.4 billion.