Bitcoin (BTC) Price Reclaims $64K Following Saylor’s “Winning” Message

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As a seasoned researcher with a background in finance and technology, I have observed the cryptocurrency market closely for years. My personal perspective is that Bitcoin is indeed experiencing a significant resurgence, but whether it can be labeled as “winning” is subjective and depends on one’s investment horizon and risk tolerance.

Previously, MicroStrategy’s former CEO, Michael Saylor, has amplified his social media presence by voicing on the X platform that Bitcoin is prevailing.

The confident social media statement came amid Bitcoin’s ongoing price rally.

Over the last day, the primary cryptocurrency has seen a 2.3% increase, as per CoinGecko’s records. Remarkably, it has reclaimed the price point of $64,000. Currently, trades for this digital currency are occurring at $64,101 on the Binance platform.

According to U.Today’s report, it’s expected that the major digital currency may see increased price fluctuations because of the upcoming disclosure of significant economic statistics, such as the September Consumer Price Index (CPI) figure.

Is Bitcoin actually winning? 

Bitcoin is up 52.6% on the year-over-year basis. 

However, the cryptocurrency is still down 13% from its all-time high. 

Recently, those who invest in Bitcoin have encountered ridicule from gold enthusiasts, even their longtime critic Peter Schiff, as gold has been setting new record highs with relative ease, seemingly outperforming its digital counterpart.

Lately, Bitcoin has experienced a series of victories due to the Federal Reserve’s surprise interest rate reduction.

Yet, it’s uncertain if Bitcoin can indeed surpass its previous peak, which occurred as a result of the market excitement sparked by an ETF in early 2024.

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2024-10-07 18:04