BTC price soars above $ 14,500

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Tokeneo
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3 min reading

The BTC has risen almost 7% in the last 24 hours, again surpassing $ 14,000. Currently, the price of BTC is as high as $ 14,503, the highest since January 2018.

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The BTC price grows by 7% in 24 hours

Bitcoin (BTC) rose by as much as 6.9% over the last day, reaching USD 14,519 on Thursday, the highest level since January 2018. During the week, the largest cryptocurrency in the world has already gained almost 12%.

Importantly, profits have already increased above 100% since the beginning of the year. At the time of publication, the BTC rate is USD 14,503 - according to CoinMarketCap.

According to some experts, Bitcoin has been gaining in the recent days from the uncertainty related to the presidential election in the United States.

Jason Lau, the COO of the OKCoin cryptocurrency exchange, told CoinDesk, however, that he was not convinced the recent rise had anything to do with the election. "While everyone's eyes are on the elections, it is too early to attribute Bitcoin's gains (achieved by) to them in terms of the impact on macroeconomic policy by either candidate."

According to Bill Noble of Token Metrics, "the strong desire for economic freedom and the advent of inflation are driving the upward trend of (in the market) cryptocurrencies."

According to many analysts, in the short and medium term, BTC will grow regardless of who wins the elections. However, "for a coin to continue its uptrend, it will have to trade above the $ 14,000 mark for an extended period of time," said Bloomberg's Casey Wagner.

BTC price above $ 10,000 a record 100 days in a row

According to CoinMarketCap data, Bitcoin closed yesterday's session above the $ 10,000 level for ... 100 days in a row. The oldest cryptocurrency has been in the five-digit territory continuously since July 27.

This is the longest period in history. The previous record of "just" 62 days was in late 2017/2018, when the cryptocurrency hit its all-time record at just over $ 20,000.

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