Bitcoin Surges 10% in a Week, Experts Attribute Rise to Favorable Monetary Policies and Growing Institutional Interest

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Cointime2024/11/05 10:11

By:Cointime

Bitcoin has seen a rise of 10% in the past week, surpassing $64,000. This surge is attributed to various factors, including the recent interest rate cuts by the Federal Reserve, an increase in demand for Bitcoin ETFs, and growing political support. Bitcoin is now considered a store of value, similar to gold, as the U.S. national debt continues to rise. Additionally, the stability of Bitcoin miners, completion of large Bitcoin sell-offs, and institutional interest have contributed to its rise. Experts predict that Bitcoin's upward trend will continue in the coming months, with potential catalysts such as the U.S. Presidential election and the expected distribution of funds from FTX creditors.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Cryptopolitan•2024/11/24 03:44