The post Bitcoin Price is Up 0.80% Today as BTC Trades at $67,000 appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) price today trades at $67,788.0 as of 3 PM. BTC price hit a daily high of $67,928.0 today after sliding 2.75% on October 24. Why Bitcoin Price is Rising Today? Bitcoin price dropped 0.04% today and currently auctions around $66,890 on October 24, 2024. Since the weekend rally, BTC has been on a downtrend and continues to shed as investors sell. Although there was a brief rally to $67,600 in the late New York trading session, the overall trend remains bearish. Bitcoin Price Today Short-term Bitcoin Price Performance is Bearish *bitcoin price updated as of 3 PM. Price of BTC trades at $66,990, bringing the year-to-date gain from 56% on October 20 to 52% as of October 24. Although many altcoins have shot up in excess of triple digits, Bitcoin has yet to do the same. Ethereum price’s YTD performance stands at 7.13% and is well below BTC. Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives like digital gold, inflation hedge, uncorrelated asset, have kept BTC at the forefront of the crypto market since its inception in 2009. Bullish Historical Bitcoin Price Action to Continue in Q4, 2024 As Bitcoin price continues its seven-month consolidation, investors need to focus on diminishing YTD returns for BTC that has dropped from 56% on October 20 to 52% as of this writing. Investors can expect this number to remain uncertain in the short term. However, the first of November could bring with it massive volatility due to the conclusion of the US presidential elections. Many industry veterans speculate that cryptocurrencies will likely rally regardless of who wins the elections. Regardless, if the bull run kickstarts in November, investors can expect a new…

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Filed under: News - @ October 24, 2024 4:28 pm