Bitcoin prices rose above 69 thousand dollars during the Asian trading period on Monday, to approach the level of 70 thousand dollars, with a weekly rise of more than 10%, as the cryptocurrency is now trading at its highest levels in three months.
There are some factors that support this rise:-
1-the decline in inflation and the prospects of further interest rate cuts by the Fed, as interest has been cut three times by the ECB this year.
2-the US presidential election next month, both candidates Donald Trump and Kamala Harris, are speaking in a positive and optimistic tone about crypto assets. The Republican candidate changed his position on cryptocurrencies, turning from an enemy to a friend of hers, who constantly expressed his support for the crypto industry throughout his campaign, saying that Bitcoin needs mining in the United States. Rival vice president Kamala Harris also recently pledged to support a regulatory framework for cryptocurrencies, easing some concerns about the current administration's critical approach to the crypto industry.
3-the continuing global economic uncertainty and increasing geopolitical tensions, which in turn led to an increase in demand for safe havens, including bitcoin, along with gold and the dollar.
