CandleFocus Bitcoin Set to Rise Beyond $70,000 in 'Coming Weeks,' Experts Say
2024-10-17
Author: Content Editor
The price of Bitcoin has risen to over $67,600, its highest point since August, and is predicted to reach $70,000 in the coming weeks. This optimism is fueled by a technical breakout that supports further gains, as well as positive political developments in the US. Both Republican nominee Donald Trump and Democratic nominee Kamala Harris have expressed support for the crypto industry, with Trump vowing to make the US the world's crypto capital and protect users' right to custody their assets. This political backing is expected to lead to a more favorable regulatory environment, boosting investor confidence and demand. Additionally, global monetary policies, including extensive rate cuts by major central banks, could also contribute to Bitcoin reaching its all-time high. However, concerns remain over China's economic strife and geopolitical tensions in the Middle East.
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