Bitcoin is close to a rally that could push it to a new record, but investors may have to wait a little longer as the race U.S. presidential race comes to an end. The flagship cryptocurrency finished October up 10%, closing the month above $70,000 for the first time since March. It has been struggling to rise back above that level ever since, and succeeded this past week before modestly retreating again, ending 6% off its all-time high. The focus now is on the election. While many investors have tempered their concern over possible long-term harm to the crypto industry from a victory by Vice President Kamala Harris – and bitcoin’s supply and demand dynamics support a long-term uptrend – election-related volatility could still rock…
Nov 06 2024
