Is Bitcoin (BTC) gearing up for a wild ride? The cryptocurrency has surged by 2.57% in the past 24 hours and shows no signs of slowing down.
The highly coveted cryptocurrency token is currently soaring at an impressive $63,043 (BTC/USD) on this glorious Friday morning. As we gear up for an exciting weekend of trading, the energy in the market is palpable. Despite a relatively stagnant trade volume compared to yesterday, Bitcoin is still raking in a whopping $24 billion in trades every single day.
None other than controversial presidential candidate, Donald Trump, who made waves this week by publicly embracing cryptocurrency. But he’s not the only one with a bold stance on digital currency. Robert F. Kennedy, another contender in the presidential race, has also jumped on the crypto bandwagon, accepting campaign donations in decentralized currency and revealing his plans for a crypto-friendly government.
With the political landscape shifting towards embracing the world of digital finance, could this be the beginning of a new era for Bitcoin?
Bitcoin’s recent journey has been a rollercoaster ride, with its value plunging to a low of $60,782 before bouncing back with a 4% surge. This comeback is a much-needed victory for the struggling coin, which has been struggling to hold onto any gains in the volatile market.
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Is Bitcoin Turning around?
There is a looming fear that Bitcoin’s meteoric rise will be nothing but a fleeting moment. Despite its valiant efforts to maintain its gains, the coin has been embattled week after week, taking small strides forward only to be dragged back down by the weight of inflation fears in the crypto world.
Could this be the moment that Bitcoin breaks free from its bearish trend and embarks on a bullish journey? While the potential for a surge in value is enticing, the reality of Bitcoin’s recent performance and the looming threat of inflation casts a shadow of doubt over its longevity.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.