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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-surpasses-70000-in-two-weeks" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surpasses $70,000 in Two Weeks?</a><br></p>
<p style="text-align: justify">Markus Thielen, the mind behind 10x Research, projects that <a href="https://en.bitcoinhaber.net/bitcoins-swift-comeback-sparks-potential-for-surge-and-concerns-over-major-corrections" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> will soon soar past $70,000, hitting an unprecedented $73,000 by the close of October. He attributes this potential rise to an influx of stablecoin liquidity and a softening monetary stance in China, both of which are expected to fuel the cryptocurrency’s rally.</p>
<h2 id="can-bitcoin-maintain-its-upward-trajectory">Can Bitcoin Maintain Its Upward Trajectory?</h2>
<p style="text-align: justify">Thielen argues that Bitcoin’s current levels, exceeding $65,000, signify a departure from its previous downturn. He anticipates this upward trend will persist, with his analyses suggesting a potential peak around $75,000. This optimism is bolstered by various technical indicators, highlighting continued momentum.</p>
<h2 id="how-is-china-s-policy-influencing-bitcoin">How Is China’s Policy Influencing Bitcoin?</h2>
<p style="text-align: justify">China’s past involvement in Bitcoin mining and its recent economic incentives are pivotal to the Bitcoin rally, according to Thielen. He notes that mining pools from China, once responsible for 90% of trading in 2014, have recently seen a resurgence, contributing significantly to Bitcoin’s global standing.</p>
<p style="text-align: justify">Several key points emerge from Thielen’s insights:</p>
<ul style="text-align: justify">
 <li>Bitcoin’s rise past $65,000 marks a positive shift in market sentiment.</li>
 <li>Chinese economic policies could further boost Bitcoin’s value.</li>
 <li>Federal Reserve policies and Ethereum’s rising fees pose potential challenges.</li>
 <li>Stablecoin minting, particularly from Circle, has increased liquidity.</li>
</ul>
<p style="text-align: justify">Thielen also considers geopolitical factors, suggesting that a Trump re-election could pressure the Federal Reserve into maintaining lower interest rates. This scenario might prolong the Bitcoin rally into 2025. As of now, Bitcoin hovers around $65,500, reflecting a robust market response to recent monetary changes and liquidity increases.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/bitcoin-surpasses-70000-in-two-weeks" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surpasses $70,000 in Two Weeks?</a></h5>

Bitcoin Surpasses $70,000 in Two Weeks?

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