As the broader crypto market starts to rebound, Bitcoin is once more in the forefront and crosses the $67,000 barrier. Bitcoin is trading roughly $67,150 as of October 16, a good 4% increase in just 24 hours. Given that it represents the crypto’s highest price point since late July, this spike is notable. Related Reading: Neiro Coin Blows Up 4,608%—Can It Sustain The Momentum? The recent rally saw spot Bitcoin exchange-traded funds (ETFs) garner the largest single-day inflow of capital in over four months. Bitcoin jumped to $67,820 before stabilizing to the $67,000 level at the time of writing. It appears momentum is gaining, with growing attention from investors in this space. Key Factors Driving Bitcoin’s Increase The response of the global market to recent updates from China is one of the key forces behind the increase of Bitcoin. The nation has been trying hard to resuscitate its economy, and its most recent stimulus announcement begs numerous questions about whether it is sufficient. Some speculators have switched their attention from Chinese stocks to cryptocurrencies like Bitcoin since economists feel China’s attemp ..
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