Bitcoin Increases to USD 68,000 After Joe Biden Withdrawal from US Elections

Bitcoin, which was facing selling pressure for the last few weeks, saw a strong rally on Monday. Due to Joe Biden’s withdrawal from the US presidential election, the price of bitcoin was trading at around $68,007 on international exchanges. This is its highest price since June. It was trading at around $68,000 on Indian exchanges like BuyUCoin.

Ether also saw a jump compared to last week. Its price was around $3,512 on international exchanges like CoinMarketCap and $3,685 on Indian exchanges. Apart from this, the prices of Tether, Ripple, Bitcoin Cash and Polkadot have increased. Binance Coin, Solana, Litecoin, Chainlink, Bitcoin SV and Cronos had losses. In the last one day Crypto Market capitalization of was up by about 0.91 percent at around $2.47 trillion.

Edul Patel, CEO of crypto app Mudrex, told Gadgets360, “There is excitement in the market due to the increasing possibility of Donald Trump winning the US presidential election and Bitcoin has again reached the level of $ 68,000. The next important level for it is $ 70,000.” CoinDCX’s market desk said, “Ether is strong before the start of ETF trading. It is important for it to cross the resistance of $ 3,650 and its support is at $ 3,360.”

Last month, Bolivia lifted the ban imposed on Bitcoin almost a decade ago. Its aim is to balance the country’s economy and modernize payment systems. Bolivia has become the first country in Latin America to take steps in favor of crypto. However, its Central Bank has not given legal currency status to Bitcoin or other cryptocurrencies. Bolivia’s Central Bank has also allowed banks to make crypto transactions. Banco Central de Bolivia said that it is withdrawing the ban imposed on payments from cryptocurrencies, including Bitcoin payments. Debt in this country is expected to increase to more than $ 21 billion by 2029. Banco Central de Bolivia has also decided to allow banks to use electronic channels and facilitate crypto payments.