Category: Crypto News, News

Bitcoin (BTC) Price Hits $70k as Donald Trump Vows to become “Crypto President”

As news of this event seeped into the media over the weekend, it appears to reinforced investors’ confidence in Bitcoin’ long-term prospects.

“President Trump made clear that the Biden-Gensler crusade against crypto will grind to a halt within one hour of a second Trump administration,” said Jacob Helberg, an adviser to data analytics provider Palantir, referring to SEC Chair Gary Gensler.

Executives from crypto exchange Coinbase, crypto investor twins Tyler and Cameron Winklevoss and other crypto leaders  also attended on Thursday, Dhillon added.

 

Bitcoin Price Forecast; $71,500 Resistance Proves Daunting

Following Trump’s latest reassuring comments, Bitcoin price has now surged above $70,000 up 2% from the weekly-lows recorded on Friday, June 7. This move parking hopes of positive price outlook this week ahead of the forthcoming Federal Open Market Committee (FOMC) rate decision slated for June 12, 2024.

With out a clear bullish demand catalyst, Bitcoin price seems unlike to breakout towards new all-time highs above $72,000 in the near-term.

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