After Donald Trump's exciting speech over the weekend, Bitcoin also started Monday strong. While the largest cryptocurrency is rising to $69,950, it seems only a matter of time before it exceeds $70k. Bitcoin was last at $70K on June 10.
In early July, Mt. Bitcoin, fell as much as $53k due to Gox sales and the German government, but has since rebounded, almost reaching above $70k. The largest cryptocurrency, if it exceeds this level ($70k), will reach this price for the first time since June 10.
Trump's influence has grown...
In the recent rise of Bitcoin, Donald Trump's statements and even the armed assassination he suffered could come into play. Bitcoin, which fell sharply at the beginning of June, continued this decline in July and reached $53 thousand, on the rise immediately after Trump's armed attack on July 13. Bitcoin, opening day July 13 at $57,800, closing the day above $59K. The price increased sharply within a few days and reached $65k on July 15.
Right in those days, it was announced that Trump would give a speech at the Bitcoin Conference. Bitcoin dominance, which sparked a rally with Trump, also increased to more than 56%.
Trump's commitment to strategic reserves at the conference again caused prices to rise significantly on Saturday night.
Fed expectations...
One of the most important periods expected by traditional financial markets, such as the cryptocurrency market, is the Fed's FOMC meeting in September... Expectations at the meeting on September 18 is that a 25 basis point interest rate cut will be implemented, but there is still no certainty on this issue.
The absence of a meeting in August and expectations of very low interest rate cuts from the meeting on July 31 will make for a quiet period of nearly 2 months in this sense.
