Bitcoin Set for New All-Time Highs as Weekend Approaches

Bitcoin on the Weekend - Analysis, Charts, News on 27.07.2024

The latest analysis from XTB suggests that Bitcoin is poised for new all-time highs over the weekend. Despite a seemingly stagnant price in recent days, there has been notable strength in Bitcoin compared to tech stocks within the Nasdaq100 index. On Thursday, panic selling led to a test of the $63,000 region; however, strong demand quickly pushed prices back up.

XTB's technical outlook indicates bullish momentum if Bitcoin holds above $63,000 and breaks through recently established highs around $66,300-$68,300. A move towards or beyond $72,000 could be imminent unless another drop below $63,000 occurs—potentially shifting short-term sentiment to neutral pending macroeconomic factors like Wednesday’s FED interest rate decision.

Cryptocurrencies: Trump Courts Bitcoin Community

According to Zeit.de (zeit.de/news/2024-07/28/trump-umgarnt-bitcoin-community), Donald Trump is actively courting votes from cryptocurrency enthusiasts as part of his presidential campaign strategy. Speaking at a conference in Nashville on Saturday, he promised pro-Bitcoin policies and proposed establishing a national reserve of Bitcoins held by the US government.

If re-elected president next year, Trump vowed to fire SEC Chairman Gary Gensler due to his critical stance on cryptocurrencies—a legally questionable promise given Gensler's term runs until 2026—and create an advisory board dedicated solely to digital currencies within the White House during his first 100 days in office.

Trump Plans Bitcoin Reserve - ZDFheute

ZDFheute reports (zdf.de/nachrichten/politik/ausland/joe-biden-praesidentschaft-rueckzug-us-wahl-liveblog-100.html) that former President Donald Trump plans to establish strategic national reserves of Bitcoin should he win reelection. At a crypto-conference in Tennessee last week, he spoke about freedom and sovereignty associated with decentralized finance technologies such as blockchain-based assets like BTCs. He promised not only regulatory clarity but also retaining any existing federal holdings indefinitely into these newly formed treasuries instead of liquidating them off-market prematurely under current fiscal pressures faced across America.

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Article Summary

XTB's analysis suggests Bitcoin could reach new all-time highs if it stays above $63,000 and breaks through the $66,300-$68,300 range. Meanwhile, Donald Trump is courting cryptocurrency enthusiasts with promises of pro-Bitcoin policies and a national reserve of Bitcoins as part of his presidential campaign strategy.