CandleFocus Bitcoin Is On The Threshold Of The Critical Level Of $70,000! Will There Be A Breakout? Here Are Analysts' Views
2024-10-21
Author: Content Editor
Bitcoin is poised to break the $70,000 mark as investors focus on the upcoming US presidential elections. The election has brought crypto into the political conversation, with both candidates expressing support for the industry. While data shows Trump leading Harris with a 60% chance of victory, Harris holds a narrow lead in national polls. A Trump victory and a Republican sweep in Congress would be the most positive outcome for the crypto market, as it may lead to crypto-friendly legislation. The US Federal Open Market Committee (FOMC) meeting and the possibility of a 25 basis point rate cut also factor into Bitcoin's future momentum. The combination of political and economic developments will be crucial in determining whether Bitcoin reaches a new all-time high in the coming weeks.
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