In a significant market movement, Bitcoin‘s price has surged past the $70,000 mark, reaching $70,017 at the time of reporting. This upward trend comes despite a recent drop to $66,835 within the last 24 hours, underscoring the accuracy of market predictions regarding volatility as election results loom.
What Is Driving the Cryptocurrency Surge?
In the last day, several cryptocurrencies have experienced notable increases. For instance, DOGE saw a remarkable rise of 13%, while SHIB climbed by 8%. However, other currencies like ETH have not yet shown significant performance. As the United States approaches the announcement of its new president, some traders are cautiously repurchasing after an initial sell-off triggered by volatility concerns.
