Bitcoin Reclaims $71,000: Will BTC Hit A New Peak This Week?
Bitcoin (BTC) has reclaimed the $71,000 level for the first time since June of this year. The asset is up 4.9% in the daily charts, 5.6% in the weekly charts, 8.2% in the 14-day charts, and 8% over the last month. BTC’s price has also risen by nearly 109% since late October 2023. The original cryptocurrency is now only 3.6% away from its all-time high of $73,737, which it attained in March of this year. Also Read: Apple (AAPL) Competes With Nvidia (NVDA) in AI Tech Showdown Source:: CoinGecko Why Is Bitcoin Rallying? BTC’s latest upward momentum could be due to investors bracing themselves for MicroStrategy’s quarterly earnings. The company’s stock hit an all-time high closing price of $313 on Monday and trades for around $255.34. Microstrategy is one of the most bullish entities in Bitcoin (BTC). The company owns 252,220 as of Sept. 20, 2024. BTC’s rally could also be due to the upcoming US Presidential elections. Given his pro-crypto stance, crypto analys...