Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

The price of Bitcoin is testing the $60,000 level. Will Trump end Joe Biden's war on cryptocurrencies?

Today's market analysis on behalf of Rania Gule Market Analyst at


June 25, 2024 ( Newswire) The price of Bitcoin briefly fell below the $60,000 level yesterday, starting today's trading at $61,380, following news of the defunct Mt. Gox exchange beginning to pay its creditors in July. However, market data reveals that the recent increase in volume at the bottom might indicate a potential recovery in Bitcoin's price based on historical trends.

In my view, the recent drop in Bitcoin prices has led to questions, observations, and chaos within the cryptocurrency community. The largest digital asset remained below the $69,000 level for more than two weeks before the recent decline. I believe that this rise and fall in prices is not new to Bitcoin, as historical price trends show.

I also think that a recovery in Bitcoin's price from current levels could revive new hopes among investors who have become sceptical about Bitcoin's price rise. As Bitcoin prices continue to fall, in my opinion, optimism for a pro-cryptocurrency government will also continue to spread hope within the cryptocurrency industry. Former President Donald Trump is in "talks" to officially speak at the Bitcoin conference in July.

It is noteworthy that Trump has received massive support from the cryptocurrency market over the past three months, following his pro-cryptocurrency stance, which includes accepting Bitcoin donations and launching his token. Trump recently stated that he "will end Joe Biden's war on cryptocurrencies" and intends to make the United States the leading country in Bitcoin and innovation.

In a previous speech, Trump said, "We will ensure that the future of cryptocurrencies and the future of Bitcoin will be made in America." In my view, Trump's speech at the Bitcoin conference could enhance his standing against Democrat Joe Biden, as most elections have reflected significant interest from Trump in making the next government pro-cryptocurrency.

As such, Bitcoin (BTC) continues its decline from last week, falling below $60,000 yesterday. Bitcoin is facing resistance amid continuous outflows from Bitcoin ETFs over the past six days. Meanwhile, Bitcoin miners have seen a decrease in reserves, while German authorities have continued to deposit Bitcoin in central exchanges since last week, which could be a sign of price increases in the long term from a fundamental perspective.

More Info:

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy:

Investorideas Potcasts is on Facebook Follow Investorideas Potcasts on Twitter Investorideas Potcasts is on Instagram Investorideas Potcasts is on LinkedIn Group