Bitcoin Rises to $64,000 but Market Stays Uncertain
Listen to the story
Bitcoin is a type of digital money. It does not use paper or coins.
Bitcoin went up to US$64,000. This is its highest price since June.
The price went up after the United States government did something with its bonds. Bonds are a way for a government to borrow money. The U.S. bought back more bonds than before. This made investors feel good about money markets.
But experts say the market still has no clear direction. A market is a place where people buy and sell things, like bitcoin.
This is because of low volatility. Volatility means how much a price moves up and down. When volatility is low, the price does not move much.
People are also watching U.S. interest rates. Interest rates show how much it costs to borrow money.
In Brazil, people are watching the Selic rate. The Selic is Brazil's main interest rate.
Both interest rates can change how people invest their money. This includes bitcoin.
Right now, the bitcoin price is not falling or rising fast. It is staying in one small area. This is called consolidation.
Vocabulary15 words
- Bitcoin
- a kind of digital money
- market
- a place where people buy and sell things
- volatility
- how much a price moves up and down
- interest rates
- the cost of borrowing money
- Selic
- Brazil's main interest rate
- consolidation
- when a price stays in one small area
- bonds
- a way for a government to borrow money
- digital money
- money that only exists on computers
- investors
- people who put money into something to make more money
- price
- how much something costs
- buy back
- to purchase something again after selling it
- government
- the group that runs a country
- United States
- a big country in North America
- Brazil
- a big country in South America
- direction
- the way something is moving
Quiz
Answer key
1. US$64,000 2. Because of low volatility 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Bitcoin is a type of _____ money.
Bitcoin went up to US$_____.
This is its highest price since _____.
The price went up after the United States government did something with its _____.
The U.S. bought back more bonds than _____.
But experts say the market still has no clear _____.
This is because of low _____.
People are also watching U.S. interest _____.
In Brazil, people are watching the _____ rate.
Right now, the bitcoin price is not falling or rising _____.