Bitcoin Surpasses $70,000 in Two Weeks?

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You can also read this news on BH NEWS: Bitcoin Surpasses $70,000 in Two Weeks? Markus Thielen, the mind behind 10x Research, projects that Bitcoin will soon soar past $70,000, hitting an ...

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He attributes this potential rise to an influx of stablecoin liquidity and a softening monetary stance in China, both of which are expected to fuel the cryptocurrency’s rally.Thielen argues that Bitcoin’s current levels, exceeding $65,000, signify a departure from its previous downturn. He anticipates this upward trend will persist, with his analyses suggesting a potential peak around $75,000. This optimism is bolstered by various technical indicators, highlighting continued momentum.China’s past involvement in Bitcoin mining and its recent economic incentives are pivotal to the Bitcoin rally, according to Thielen. He notes that mining pools from China, once responsible for 90% of trading in 2014, have recently seen a resurgence, contributing significantly","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"COIN":"Coinbase Global, Inc.","BK4588":"碎股","BK4594":"比特币ETF概念","BK4585":"ETF&股票定投概念"},"translate_title":"比特币两周突破7万美元？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COIN":0.9},"content_text":"You can also read this news on BH NEWS: Bitcoin Surpasses $70,000 in Two Weeks?\nMarkus Thielen, the mind behind 10x Research, projects that Bitcoin will soon soar past $70,000, hitting an unprecedented $73,000 by the close of October. He attributes this potential rise to an influx of stablecoin liquidity and a softening monetary stance in China, both of which are expected to fuel the cryptocurrency’s rally.\nCan Bitcoin Maintain Its Upward Trajectory?\nThielen argues that Bitcoin’s current levels, exceeding $65,000, signify a departure from its previous downturn. He anticipates this upward trend will persist, with his analyses suggesting a potential peak around $75,000. This optimism is bolstered by various technical indicators, highlighting continued momentum.\nHow Is China’s Policy Influencing Bitcoin?\nChina’s past involvement in Bitcoin mining and its recent economic incentives are pivotal to the Bitcoin rally, according to Thielen. He notes that mining pools from China, once responsible for 90% of trading in 2014, have recently seen a resurgence, contributing significantly to Bitcoin’s global standing.\nSeveral key points emerge from Thielen’s insights:\n\nBitcoin’s rise past $65,000 marks a positive shift in market sentiment.\nChinese economic policies could further boost Bitcoin’s value.\nFederal Reserve policies and Ethereum’s rising fees pose potential challenges.\nStablecoin minting, particularly from Circle, has increased liquidity.\n\nThielen also considers geopolitical factors, suggesting that a Trump re-election could pressure the Federal Reserve into maintaining lower interest rates. This scenario might prolong the Bitcoin rally into 2025. As of now, Bitcoin hovers around $65,500, reflecting a robust market response to recent monetary changes and liquidity increases.\nContinue Reading:  Bitcoin Surpasses $70,000 in Two Weeks?","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2471693022"}