Bitcoin Soars as Trump Re-Election Sparks Speculation
Bitcoin's price has been on a tear after US President Donald Trump's re-election and a subsequent 25 basis points Fed rate cut. Analysts are speculating that Bitcoin could reach as high as $200,000 in value.
The cryptocurrency's price rose by 20% over the past few days, reaching a resistance level of $75,943 and trading between $66,476 and $72,425. The Relative Strength Index (RSI) of BTC has reached 58.35, just below the overbought level, indicating further gains are possible.
Some analysts predict that Bitcoin could rise by 13% to reach the $81,892 resistance level if it can cross the current resistance level. On the other hand, if BTC falls below the $64,044 support level, it could plummet to $58,095.
In related news, CYBRO's presale has crossed 4 million and raised over $4 million in investment. The platform offers a next-gen DeFi experience with an ROI of 1200% for investors who bought in at the presale price of $0.04 per token.