Bitcoin price rises and reaches its highest level in 6 weeks
The price of Bitcoin witnessed a positive reaction following President Joe Biden's decision to withdraw from the 2024 presidential race, which pushed the price of Bitcoin to a peak not seen in several weeks, as the price exceeded the $68,000 level.
Altcoins were also in extreme volatility following this announcement.
Bitcoin's price rose from $58,000 to $65,000 within days following the failed assassination attempt against crypto-supporting presidential candidate Donald Trump, before losing $3,000 last Tuesday.
The bulls entered the market again, pushing the price to $66,000, but they were stopped and the price of Bitcoin fell to $63,500 in just a few hours on Friday.
Friday evening and Saturday morning saw another rally, pushing the cryptocurrency to around $67,000.
This time, Bitcoin fell $2,000 on the news, before the coin rose several thousand to reach a six-week high of $68,400 (on Bitstamp).
Currently, Bitcoin is trading significantly lower, as its market value has stabilized at $1.330 trillion, and its dominance over altcoins has increased to 51.7% according to Coingecko data.
