Bitcoin is poised to exceed the $70,000 threshold due to the anticipation of a substantial announcement regarding Bitcoin’s involvement in the United States’ financial policy during Donald Trump’s keynote speech at the Bitcoin 2024 Conference in Nashville.
The price of Bitcoin reached its highest point at $69,300, indicating a 3.1% surge within the last 24 hours. Robert F. Kennedy Jr., a contender for the US presidency, proposed the idea that Trump may potentially announce intentions to classify Bitcoin as a reserve asset.
David Bailey, the Chief Executive Officer of BTC Inc., saw the endorsement of the Bitcoin community for Trump, who has transitioned from his earlier negative stance on crypto to now embracing donations and advocating for domestic Bitcoin mining.
The price of Bitcoin had a significant increase, surpassing $67,000 earlier this week, due to the anticipation surrounding Trump’s keynote speech.
Recently, CoinGecko released a survey indicating that 43.7% of respondents anticipate Bitcoin to surpass $100,000 this cycle, with the $91,000 to $100,000 range being the most popular prediction. Experienced crypto participants and investors have higher expectations, with 50.5% and 51.8% of respondents predicting Bitcoin will surpass $100,000.
