Bitcoin
Bitcoin (BTC) Price Hits $70K as Donald Trump Vows to Become “President of Crypto”
As news of this event reached the media over the weekend, it appears to have reinforced investor confidence in Bitcoin’s long-term prospects.
“President Trump has made it clear that the Biden-Gensler crusade against crypto will be halted within an hour of a second Trump administration,” said Jacob Helberg, a consultant at data analytics provider Palantir, referring to SEC Chairman Gary Gensler.
Executives from cryptocurrency exchange Coinbase, cryptocurrency investing twins Tyler and Cameron Winklevoss and other cryptocurrency leaders also attended on Thursday, Dhillon added.
Bitcoin price prediction; Resistance at $71,500 proves daunting
Following Trump’s latest reassuring comments, the price of Bitcoin has now risen above $70,000, a 2% increase from the weekly lows recorded on Friday, June 7th. This move raises hopes of a positive price outlook this week ahead of the next Federal Open Market Committee (FOMC) rate. decision scheduled for June 12, 2024.
Without a clear bullish demand catalyst, Bitcoin price seems unlikely to reach new highs above $72,000 in the near term.