Bitcoin Price Surges Amid US Election Speculation
The price of Bitcoin has recently surpassed the $70,000 mark, driven by speculation surrounding the upcoming US presidential election. According to Arabian Gulf Business Insight (AGBI), this marks a significant milestone for the cryptocurrency as it reached $72,479 earlier this week. The surge is attributed to strong exchange-traded fund inflows and Donald Trump's slight lead in election polls. Vijay Valecha from Century Financial suggests that if current trends continue, Bitcoin could potentially hit a target of $75,000.
Record Highs Looming for Bitcoin on Election Hopes
Investing.com reports that Bitcoin's value rose sharply due to increased anticipation around the forthcoming elections. As of Wednesday morning, its price was just shy of an all-time high at $72,456.8. This increase is largely fueled by predictions favoring Trump over Kamala Harris in what appears to be a closely contested race. Analysts note that while both candidates have shown some support for cryptocurrencies, Trump's pro-crypto stance might provide further momentum should he win.
XRP Demand Driven by SEC Scrutiny and Political Bets
FX Empire highlights how XRP demand has been influenced by ongoing scrutiny from the SEC and bets placed on Trump's potential return to office. With recent movements among former SEC lawyers towards crypto firms indicating possible regulatory shifts under new leadership, investors are hopeful about future clarity in regulations which could benefit digital currencies like XRP and BTC significantly.
Caution Advised Despite Potential Crypto Market Rally with Trump Win
A report from Cointelegraph warns traders against excessive optimism despite forecasts suggesting a "dopamine hit" for crypto markets following a Trump victory in November’s elections. While there may be short-term gains anticipated through options trading data showing bullish sentiment leading into these events, experts advise maintaining caution given inherent market volatility during such periods.
Fidelity Leads Ethereum ETF Race Against BlackRock
An article from Cointribune EN reveals Fidelity's advancement ahead of competitors like BlackRock in their pursuit of establishing successful Ethereum ETF offerings globally, marking another pivotal moment amidst broader industry developments specifically related to steadily increasing institutional adoption rates across various sectors worldwide.
Sources:
- Bitcoin price passes $70,000 on US election speculation
- Bitcoin price today: upbeat at $72k with record high close amid election hopes
- Major Hong Kong Exchange Group to Launch Virtual Asset Index Series
- Bitcoin surges past $73,500 as US election speculation fuels demand
- XRP News Today: SEC Scrutiny and Trump Election Bets Drive XRP and BTC Demand
- Trump victory may give crypto a 'dopamine hit,' but traders should be cautious
- Fidelity Overtakes BlackRock In The Race For Ethereum ETFs
- Bitcoin, Ethereum or Solana: Who Will Win the Race amid U.S. Elections?
- What is Ethereum? A Comprehensive Guide for Beginners in 2024
- Analyst Who Profited from Early Ethereum Gains Predicts Exponential Gains For AVAX Price and a New DeFi Protocol
- Ethereum Founder Vitalik Buterin: 'The Splurge' Seeks to Bring the EVM to an 'Endgame State'
- Ethereum ETFs See Outflows Amid Price Struggles, While BTC ETFs Draw Steady Investor Interest
- Analyst Says DOGE can never hit $23, but this AI altcoin could surge 40,000%
- XRP Bulls Hold the Line at $0.50, Target Breakout Above Moving Averages
- 5 Meme Coins to Watch in November 2024
- It Might Be Too Late to Buy Solana; But These 3 Early Altcoins Still Have 300% Upside Left
- Hottest Crypto Picks For November; Experts Say These 3 Altcoins Are ‘Not What We Were Expecting’
- Kaspa, Solana, and JetBolt: Three Altcoins that Could Explode in 2024
- Bitcoin Forms Golden Cross with MVRV Ratio, Analysts Expect Further Uptrend to $148K
- As Bitcoin Reclaims $73K, Analyst Sets Potential $462K Top, Citing Historic Fibonacci Levels
- Best Crypto to Buy Now in October 2024 – Top Crypto to Invest In
- Ethereum Price Uptrend Forms — ETH Targets Key $2,730 Resistance
- Ethereum Founder Vitalik Buterin Donates Over $1 Million to Ukrainian Humanitarian Non-Profits
- Ethereum Picking Up Momentum, Capital Flowing To ETH: When $3,500?
- Binance Introduces New Earn Wednesday Offers Featuring ETH and SOL Staking
- ETC Services in Gaza
- Atlanta Hawks injuries, Bogdan Bogdanovic update, Dyson Daniels, Kobe Bufkin, Vit Krejci, etc.
- Interview: How The Property (Digital Assets etc) Bill Will Transform Private Client Practice
- Only 10 Companies Have Reached a Trillion-Dollar Market Cap -- This Is the 1 That's a Screaming Buy Right Now
- Luce Price: LUCE Live Price Chart, Market Cap & News Today
- Only 10 Companies Have Reached a Trillion-Dollar Market Cap -- This Is the 1 That's a Screaming Buy Right Now
- The US dollar doesn’t need to collapse for BTC to reach $200K — Bitwise CIO: Guest Post by Cointelegraph
- Meme tokens on Solana reach new all-time high market cap
- Samsung Electronics Market Cap Drops $122B Over AI-Linked Memory Chip Struggles: Bloomberg Report
