Analyst: Bitcoin Key Resistance at $70,000
In an interview on 22 October, Avinash Shekhar, co-founder and chief executive officer of Pi42, said, ‘Bitcoin is approaching a key resistance level at $70,000, which is being fuelled by a number of factors, including Kamala Harris's support for cryptocurrencies, Donald Trump's 60 per cent chance of winning the election, low interest rates, and diminishing fears of World War III.’
He added that bulls are aiming to reach $72,000 in the near term, while bearish investors want the price to stay above $66,500.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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