Market Wrap: Bitcoin Rises as Central Banks Maintain Low Rates

Market Wrap: Bitcoin Rises as Central Banks Maintain Low Rates
Bitcoin continued to rise toward its all-time price high of nearly $66,000 on Monday. The cryptocurrency was up about 5% over the past 24 hours, indicating a rise in bullish sentiment.Equities and cryptocurrencies are rising as central banks in Europe and the U.S. appear to be in no rush to raise interest rates. Despite plans to ease monetary stimulus, market participants generally view low interest rates as supportive for assets deemed to be risky.Still, once seasonal strength for cryptos and equities fade, next year could be difficult for risk assets.“The Federal Reserve has started gently reining in its bond purchase…