The post Can Bitcoin (BTC) Escalate to $70K Shortly? appeared on BitcoinEthereumNews.com.

Bitcoin is in the bullish note, currently the price stays at $67K. BTC’s fear and greed index is noted at 72, suggesting greed in the market. Bitcoin (BTC) has maintained its momentum above $65K since the start of the week. The asset has climbed to $68K amid a greedy market sentiment. This surge is supported by institutional investors and notable figures who advocate for Bitcoin. Adding on to it, the Bitcoin Conference in Nashville has generated significant anticipation, particularly with Republican presidential nominee Donald Trump addressing Bitcoin’s future at the Bitcoin2024 event on July 27. Trump once called cryptocurrency a “scam,” and now he is labelling one of the biggest conferences as a keynote speaker. With his pro-crypto stance in recent campaigning efforts, crypto traders anticipate the Bitcoin plans for more regulatory clarity in the U.S. crypto industry. On the other hand, there are rumours that he could announce plans to declare Bitcoin as a U.S. strategic reserve. In the Bitcoin2024 event, Robert F. Kennedy Jr. Independent presidential nominee, suggests a motivated plan to integrate Bitcoin within the U.S. economy during his speech at the event. As part of the plan, he initiates the Treasury Department to purchase 550 Bitcoin daily until the reserve hits 4 million BTC. Meanwhile, Michael Saylor, co-founder of MicroStrategy, in the Bitcoin Conference made a prediction at the conference. Bitcoin would hit $13 million per coin by 2045. On a positive note, Saylor said Bitcoin could be worth as much as $49 million and account for 22% of global wealth. Contrarily, it might be worth $3 million and 2% of global wealth. Will BTC Price Mount Up? This month began with a brief anticipation, as Bitcoin was trading in the $61,000 range. Conversely, within a week, bears took the price down to $53K, and later…

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Filed under: News - @ July 27, 2024 2:22 pm