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Bitcoin price nears $70,000 amid optimism over future of risky assets
Money and business
Economy News - Follow-up
Once again, investors' interest in Bitcoin is heading towards achieving new record levels that were previously reached in March, driven by increasing optimism towards higher-risk assets and anticipation of the upcoming US elections.
“The six-month price rally this year has created a perfect storm for Bitcoin and other cryptocurrencies,” Blockforce Capital’s Brett Munster wrote in a commentary, pointing to increased global liquidity, including recent Chinese stimulus measures, as an attempt to propel the economy forward.
The leading cryptocurrency rose 2.9% to $68,376 on Wednesday before easing to settle around $67,800. Bitcoin, which last traded at nearly $70,000 in July, hit an all-time high of nearly $74,000 in March.
55 views
Added 10/18/2024 - 9:31 AM
https://economy-news.net/content.php?id=48862
Money and business
Economy News - Follow-up
Once again, investors' interest in Bitcoin is heading towards achieving new record levels that were previously reached in March, driven by increasing optimism towards higher-risk assets and anticipation of the upcoming US elections.
“The six-month price rally this year has created a perfect storm for Bitcoin and other cryptocurrencies,” Blockforce Capital’s Brett Munster wrote in a commentary, pointing to increased global liquidity, including recent Chinese stimulus measures, as an attempt to propel the economy forward.
The leading cryptocurrency rose 2.9% to $68,376 on Wednesday before easing to settle around $67,800. Bitcoin, which last traded at nearly $70,000 in July, hit an all-time high of nearly $74,000 in March.
55 views
Added 10/18/2024 - 9:31 AM
https://economy-news.net/content.php?id=48862
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