$BTC $BNB $ETH Can Bitcoin reach 100,000 USD after Trump's victory?
Bitcoin price breaks 72,000 USD, the market expects further increase, but the outcome of the US election will affect future trends, and caution is needed to handle volatility risks. Bitcoin breaks 70,000 USD, the market expects new highs as October comes to an end, Bitcoin finally shows the long-awaited market momentum of "Uptober".
Since the low point below 60,000 USD on October 10, Bitcoin has rebounded to a stable level near 68,000 USD, and has broken through 72,000 USD in the past 24 hours. As of the deadline, Bitcoin has increased by 8.61% in 30 days and has surged by 65.67% since the beginning of 2024, with the current price at 72,428 USD. However, Bitcoin has not yet re-touched the historical high set in March - over 73,000 USD. The market is concerned whether Bitcoin can create new highs amid the expected high volatility before and after the US presidential election.
Many investors are focusing on the upcoming election, trying to predict its impact on Bitcoin and the overall market. Source of the chart: TradingView Bitcoin finally shows the long-awaited market momentum of "Uptober" at the end of October. Can Bitcoin hit 100,000 USD? Technical analysis and future outlook As the market highly anticipates Bitcoin to hit 100,000 USD, although Bitcoin breaking 70,000 USD is a very bullish move, further confirmation is needed to establish a potentially stable upward trend that could drive the price to 100,000 USD. Bitcoin needs to maintain above this level before the end of the week to validate the "higher point" that the market hasn't seen in three months. If it cannot consistently stay above 70,000 USD, a "bull trap" may occur, and it is recommended to wait for the weekly and monthly close to be above the range of 70,000 to 71,000 USD as a stronger confirmation signal.
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