Bitcoin’s price surge continues with the cryptocurrency reaching trading levels over $67,600, nearing its peak for the year. Some predict its value could breach $70,000 in coming weeks. Factors influencing the rise include political developments such as promises from U.S. Democratic nominee Kamala Harris to foster innovation and former president Donald Trump to create a Bitcoin reserve.
In addition, extensive rate cuts by central banks could boost risk assets. However, questions remain over China’s economic issues and geopolitical tensions in the Middle East. Nevertheless, with a strong technological breakout and favorable regulation, the crypto’s ascent may continue.
