Reserve

2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/why-is-the-crypto-market-up-today-bitcoin-at-69310/" rel="noopener noreferrer nofollow">Why Is The Crypto Market Up Today? Bitcoin At $69,310</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The crypto market is experiencing a big boost today, thanks to excitement around former President <a href="https://coinpedia.org/news/bitcoin-conference-2024-what-to-expect-donald-trumps-upcoming-speech/" rel="noopener noreferrer nofollow">Donald Trump’s speech</a> on the last day of the Bitcoin Conference 2024 in Nashville. Many believe Trump’s recent increase in popularity after a failed assassination attempt could lead to a victory in November.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bitcoin-jumps-2-5-ahead-of-trump-s-speech">Bitcoin Jumps 2.5% Ahead of Trump’s Speech</h2>
<p>Bitcoin’s price has gone up 2.46% to <a href="https://markets.coinpedia.org/bitcoin/" rel="noopener noreferrer nofollow">about $69,310</a>, recovering 6.1% from its weekly low of $64,425. This rise happened just before Trump’s speech at the Bitcoin conference.&nbsp;</p>
<p>There is speculation on social media that <a href="https://coinpedia.org/news/bitcoin-to-hit-ath-after-donald-trump-bitcoin-conference-2024-speech/" rel="noopener noreferrer nofollow">Trump might announce plans</a> for a U.S. Bitcoin Reserve if he wins the election, fueling positive sentiment in the market.&nbsp; Since the failed assassination attempt on July 13, Bitcoin’s price has surged over 16.50%, reflecting increased confidence in Trump’s electoral chances.</p>
<h2 class="wp-block-heading" id="h-bitcoin-price-could-reach-87-440">Bitcoin Price Could Reach $87,440</h2>
<p>Technical analysis of the daily price chart shows that Bitcoin’s price recovered after testing its 50-day exponential moving average (50-day EMA), which has been a strong support level lately.&nbsp;</p>
<p>Now, Bitcoin is close to breaking through the upper line of its current channel pattern, aiming for $70,850, about 2.5% higher than now.&nbsp;</p>
<p>If Bitcoin hits $69,790, it might trigger a pattern known as inverse head and shoulders (IH&amp;S), which could <a href="https://coinpedia.org/news/bitcoin-conference-and-ethereum-etfs-fuel-crypto-surge-will-bitcoin-hit-13-million/" rel="noopener noreferrer nofollow">push the price even higher</a> in August. If this pattern holds, Bitcoin could reach an upside target of around $87,440 by October.</p>

Why Is The Crypto Market Up Today? Bitcoin At $69,310

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CoinPedia News

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