Bitcoin Price Prediction: BTC Soars Past $65,500 Amid Election Speculation
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, has extended its winning streak, climbing above $65,500 and reaching an intra-day high of around $66,000, suggesting bullish Bitcoin price prediction.
At the time of writing, the global crypto market cap stands at $2.37 trillion, marking a 24-hour gain of 3.44%. Bitcoin’s surge past $65,500 is attributed to the increased likelihood of Donald Trump winning the upcoming November election, boosting BTC’s price.
Additionally, the market remains optimistic about the upcoming trading of spot Ether ETFs next Tuesday, further reducing selling pressure as Mt. Gox has sold all its BTC. Furthermore, net positive BTC ETF inflows indicate sustained demand for the cryptocurrency.
European Bitcoin mining company Northern Data AG has announced plans to raise approximately €214 million through the issuance of 10,699,446 new shares.
This move represents a 20% increase in its current share capital, with shares priced at €20 each, a 1.7% premium over recent trading averages.
The funds will be used to expand Northern Data’s cloud platform and physical data centers across Europe and the U.S.
The company aims to enhance its infrastructure for high-performance computing (HPC) and generative artificial intelligence (AI), reinforcing its leadership in HPC and driving innovation in AI.
This capital raise may signal confidence in Bitcoin mining infrastructure and positively influence market sentiment within the BTC sector.
The US dollar has shown resilience despite expectations of imminent interest rate cuts by the Federal Reserve starting in September. Federal Reserve Chair Jerome Powell noted that recent inflation data indicates prices are stabilizing close to the Fed’s targets.
In June,
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