Reserve

Donald Trump

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-surges-to-69000" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Surges to $69,000</a><br></p>
<p style="text-align: justify">Bitcoin’s price has surged past $69,000, rebounding sharply from around $53,000. This significant rise has revived hopes for a retest of the $73,777 resistance level. Meanwhile, Donald Trump has shown optimism in his statements, entering the upcoming elections as a favored candidate.</p>
<h2 id="what-factors-influence-cryptocurrency-growth">What Factors Influence Cryptocurrency Growth?</h2>
<p style="text-align: justify">The recent weekly candle closure was notably positive, with promising metrics and favorable macroeconomic data. The Federal Reserve is anticipated to make more optimistic statements compared to previous meetings. As Asian markets opened, BTC climbed to $69,888, leading analysts to believe this stagnation phase might be over.</p>
<p style="text-align: justify">Renowned <a href="https://en.bitcoinhaber.net/cryptocurrency-prices-show-volatility" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto analyst</a> Jelle noted that Bitcoin typically experiences several months of volatile price movements around each halving event, which then transitions into a robust <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a>. He suggests that the current scenario might follow this historical pattern.</p>
<h2 id="how-are-experts-predicting-bitcoin-s-future">How Are Experts Predicting Bitcoin’s Future?</h2>
<p style="text-align: justify">According to CoinGlass data, sales pressure near $70,400 could pose a significant challenge. However, Trump’s speech at the Bitcoin 2024 conference in Nashville, Tennessee, where he promised to hold over 200,000 BTC as a reserve if elected, might weaken this resistance over time.</p>
<p style="text-align: justify">Daan Crypto Trades, another well-followed expert, predicts a major price surge is imminent. The confluence of the US national debt surpassing $35 trillion and the potential shift in the Federal Reserve’s monetary policy, coupled with Trump’s possible return to presidency, paints an optimistic picture for crypto enthusiasts.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<p style="text-align: justify">Here are some actionable insights for investors:</p>
<ul>
 <li>Monitor macroeconomic indicators and Federal Reserve <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">announcements</a> closely.</li>
 <li>Watch for significant resistance levels, particularly around $70,400.</li>
 <li>Consider the implications of political developments, such as Trump’s stance on BTC reserves.</li>
 <li>Track historical patterns, especially related to Bitcoin’s halving events.</li>
</ul>
<p style="text-align: justify">According to CME data, the Federal Reserve might maintain the current interest rates at the end of the month. However, CrypNuevo cautions that Chairman Powell will likely remain cautious, emphasizing the need to see sustained inflation reduction before making any rate cuts.</p>
<p style="text-align: justify">The recent PCE data was higher than expected, but the markets seem to have adjusted to this. Despite some analysts’ concerns, the ongoing downtrend in inflation and Powell’s statements suggest that the Federal Reserve may not wait for inflation to hit 2% before considering rate cuts.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-price-surges-to-69000" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Surges to $69,000</a></h5>

Bitcoin Price Surges to $69,000

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Інші статті, опубліковані 29 лип. 2024 р.

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