The value trends of Bitcoin are often linked to global economic factors such as political instability, inflation, central bank monetary policies, and market uncertainty in traditional financial markets. For instance, some investors view Bitcoin as a hedge against potential inflation resulting from loose monetary policies adopted by central banks amidst the COVID-19 pandemic. Moreover, the increasing institutional adoption also significantly influences the crypto market. So, in the current global economic context, these factors can contribute to the potential rise in the value of Bitcoin to reach 70k or higher.
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