A 'Tsunami' from China Disrupts Crypto as Bitcoin Surges Past $65,000
According to Forbes, the cryptocurrency market has seen a notable surge after China's announcement of further economic support through monetary stimulus. This follows a boom driven by BlackRock's entry into the crypto space. Bitcoin prices have soared past $65,000 per coin, a peak not reached since September. Meanwhile, MicroStrategy's founder, Michael Saylor, has introduced his company's ambitious "$100 trillion endgame." Despite this upward trend, analysts warn that the lack of detailed plans from Chinese authorities could suggest the rally might be short-lived.
Current Bitcoin Price as of October 14, 2024
Fortune reports that Bitcoin maintains its upward momentum, currently trading at approximately $64,738.98 as of this morning (Eastern time). This represents a 3.12% increase over yesterday's figures, underscoring the growing perception of cryptocurrencies like Bitcoin as viable investment assets. This shift is credited to their potential as hedges against inflation and opportunities for portfolio diversification, beyond traditional stock and bond investments. However, experts like Drew Feutz from Migration Wealth Management advise that crypto holdings should still be limited within financial strategies due to inherent volatility risks.
Key US Macro Events That Could Impact the Crypto Market This Week
Coinspeaker highlights important macroeconomic events in the US that may affect both traditional and digital markets. The Federal Reserve will monitor job and retail sales data closely, influencing future interest rate decisions and potentially shifting outlooks towards re-acceleration instead of recession. Reports on industrial production and corporate earnings from major companies could also alter investor sentiments both domestically and globally. Despite slight economic softness, strong employment numbers suggest ongoing resilience in the broader economy.
Bitcoin Leads the Crypto Market Rally, Surging Past $64K
The Cryptonomist discusses the recent gains made by leading cryptocurrencies, including Ethereum and Solana, reflecting renewed optimism regarding global economies. This is particularly evident in the Asia-Pacific region, where Chinese equities have rebounded after announcements about fiscal policies aimed at stimulating growth in underperforming sectors. Memecoins like Mog and SPX6900 have also seen substantial increases, fueled by speculation about a potential supercycle, should current trends continue.
Sources:
- A China ‘Tsunami’ Has Suddenly Hit Crypto As The Bitcoin Price Smashes $65,000
- Current price of Bitcoin as of October 14, 2024
- Key US Macro Events That Can Impact Crypto Market This Week
- Bitcoin Surges Past $64K, Leading Crypto Market Rally
- Bitcoin Rises as Traders Weigh China Fiscal Stimulus, Trump Odds
- Harris Or Trump, Bitcoin To Be In Win-Win Position Irrespective Of Who Wins The White House: 'Not Looking At This Election As A Make-Or-Break Moment'
- Bitcoin Closes In On $65K As ETFs See Over $400M In Net Inflows
- Bitcoin, Binance, Ethereum, Solana, And Ripple: The Biggest Crypto News Of The Past Week
- Ethereum (ETH) Reaches 2-Week High at $2,500 — Next Price Targets Explained
- Vitalik Buterin shares glimpse for the Future of Ethereum
- Bitcoin, Ethereum, Dogecoin Drop Amid US Government Sell-Off Fears; Tesla Price Cuts Slash Used EV Prices by 25%, Hurting Dealer - Top Headlines Today While US Slept
- Bitcoin and Ethereum Price Charts Have Disappeared From Google Search Results
- Bitcoin breaks $65,000 level, altcoins eye “up-only” season
- Bitcoin surges past $65,000, as altcoins rally following China's economic stimulus
- Crypto News Today (Oct 14th, 2024): BTC Price at $64k, Altcoin Season Bullish Signs Strengthen!
- Altcoins Under Selling Pressure with $500 Million Token Unlocks This Week
- Cardano, Kaspa, and JetBolt: Why these Three Altcoins have Huge Potential
- 5 altcoins under $1.20 with the potential for 55x returns by late November 2024
- Bitcoin Price Prediction: Can "Uptober" Push BTC to New Highs?
- BTC, ETH and XRP Price Prediction for October 14
- The Simpsons Predict Bitcoin and XRP: Should We Pay Attention?
- Crypto Price Prediction For The New Week: BTC, ETH, DOGE, SHIB, XRP
- You Won’t Believe What The Simpsons Predicted About Bitcoin & XRP!
- BTC's Trendline Breakout Exposes $70K Hurdle, ETH Holds 200-Day Average
- Ethereum Price Analysis: Is ETH About to Break Above $2.6K at Last?
- Vitalik Buterin Proposes 1 ETH Staking Threshold for Ethereum
- Ethereum’s bullish case: Why $2264 is key for ETH to rally
- Ethereum price today: ETH is up 0.29% today, trading at $2,459.99
- On Teaching, Etc.
- Inflation, Immigration, Crime, etc.
- Top gainers and losers today on 14 October: Wipro, Tech Mahindra, HDFC Life top NIFTY movers
- Stablecoin market cap closes in on 2022 UST fueled $187 billion peak
- Elastic (NYSE:ESTC) adds US$602m to market cap in the past 7 days, though investors from three years ago are still down 51%
- Is Applied Materials Inc. (AMAT) the Most Profitable Large Cap Stock to Invest In?
- Nvidia, Alibaba among morning market cap stock movers on Monday By Investing.com
- Solana Ecosystem Memecoin Market Cap Surpasses $11 Billion