🎁🎁Bitcoin Price May Exceed $120,000 With China's Economic Decision🎁🎁

Bitcoin (BTC) price could double if it reacts positively to the Chinese government's decision as it has in the past.

The US Securities and Exchange Commission (SEC) approval of spot Ethereum ETFs was a big deal and had a huge impact on the market. However, during this period, there was a potential development that could push the price of Bitcoin above $120,000.

The People's Bank of China injected liquidity into the economy and cut interest rates by 10 basis points. Real Vision analyst Jamie Coutts noted that when the Bank of China made a similar liquidity injection in 2016, Bitcoin's price increased by at least 100% in the following months. According to Coutts, such moves by the central bank significantly affect the cryptocurrency market, and with each liquidity injection, Bitcoin prices rise.

Bitcoin is trading at $66,334, losing 1.5% in the last twenty-four hours.

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