{"id":18349,"date":"2024-11-05T18:56:10","date_gmt":"2024-11-05T16:56:10","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-tests-70000-amid-us-election-volatility\/"},"modified":"2024-11-05T18:56:10","modified_gmt":"2024-11-05T16:56:10","slug":"bitcoin-tests-70000-amid-us-election-volatility","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-tests-70000-amid-us-election-volatility\/","title":{"rendered":"Bitcoin Tests $70,000 Amid US Election Volatility"},"content":{"rendered":"<p>As the US presidential elections commenced, volatility surged significantly, as experts had predicted. The price of digital gold unexpectedly tested the $70,000 level before experiencing a slight correction.<\/p>\n<p><!--more--><\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"517\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt-1024x517.png\" alt=\"15_btc_usdt\" class=\"wp-image-244559\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt-1024x517.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt-300x151.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt-768x388.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt.png 1046w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart from Binance. Data: <a href=\"https:\/\/www.tradingview.com\/x\/dZt4UBOw\">TradingView<\/a>.<\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">November 5, 2024 | 18:34<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>The price of Bitcoin resumed its upward trend, maintaining positions above the $70,000 level. <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"517\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt_2-1024x517.png\" alt=\"15_btc_usdt_2\" class=\"wp-image-244573\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt_2-1024x517.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt_2-300x151.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt_2-768x388.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/15_btc_usdt_2.png 1046w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart from Binance. Data: <a href=\"https:\/\/www.tradingview.com\/x\/dZt4UBOw\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<p>At the time of writing, the leading cryptocurrency is trading around $69,500.<\/p>\n<p>Most users of the decentralized prediction platform Polymarket lean towards a victory for Donald Trump:<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/poly-2.webp\" alt=\"poly-2\" class=\"wp-image-244560\"\/><figcaption class=\"wp-element-caption\">Bets on Donald Trump and Kamala Harris. Data: Polymarket.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Where is Bitcoin&#8217;s &#8220;Bottom&#8221;?<\/h2>\n<p>Economist Alex Kr\u00fcger assessed a 50% probability that Bitcoin will not fall below the $60,000 level again.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">50% probability of Bitcoin never trading below 60K again<\/p>\n<p>\u2014 Alex Kr\u00fcger (@krugermacro) <a href=\"https:\/\/twitter.com\/krugermacro\/status\/1853782266134094214?ref_src=twsrc%5Etfw\">November 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Some notable industry participants, such as Blockstream founder Adam Back, <a href=\"https:\/\/x.com\/adam3us\/status\/1847945253044580746\">suggest<\/a> that the &#8220;bottom&#8221; of the first cryptocurrency&#8217;s price is slightly above the $40,000 mark (200-week moving average).<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"517\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/200-1024x517.jpg\" alt=\"200\" class=\"wp-image-244568\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/200-1024x517.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/200-300x151.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/200-768x388.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/200-1536x775.jpg 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/200-2048x1034.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin price and 200-week moving average. Source: Adam Back&#8217;s X account.<\/figcaption><\/figure>\n<p>The <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/bitcoin-price-prediction\/\">Cumulative Value Days Destroyed (CVDD)<\/a> indicator suggests that the absolute minimum for Bitcoin is at $26,520.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"439\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/CVDD-1024x439.png\" alt=\"CVDD\" class=\"wp-image-244570\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/CVDD-1024x439.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/CVDD-300x129.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/CVDD-768x330.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/CVDD.png 1489w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">CVDD Indicator. Data: <a href=\"https:\/\/www.tradingview.com\/script\/qxytt0NI-CVDD-Coin-Value-Days-Destroyed-for-Bitcoin-BTC-Logue\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Over the past 24 hours, the leading cryptocurrency has risen by 2.4%, according to <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>. Its market capitalization stands at $1.38 trillion.<\/p>\n<p>In October, digital gold appreciated by 14%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the US presidential elections commenced, volatility surged significantly, as experts had predicted. The price of digital gold unexpectedly tested the $70,000 level before experiencing a slight correction.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1280,26],"class_list":["post-18349","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-bitcoin-price","tag-elections","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18349"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18349\/revisions"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}