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

目錄

CoinPedia News

在 2024年7月27日發表的其他文章

Wave of Cyber Attacks Rocks the Crypto World: Key Incidents from the Past Week

Swiss Regulator FINMA Issues New Guidance on Stablecoins, Highlights Key Risks

SHIB Sheds Its Meme Coin Status, Here's Shiba Inu Team's Proof It's Not Just Meme

Michael Saylor: US Should Own Most of World's Bitcoin

Solana – Tracing SOL’s price action after it re-tests THIS key level

Grayscale’s Ethereum Trust ETF Sees $1.5 Billion in Outflows

訂閱免費電子報，每天收取加密貨幣最新動態！