At the beginning of July, Mt. Gox and German government sales, Bitcoin, which fell to $53,000 but then started to rise again, exceeded $70,000 after about 1.5 months. The largest cryptocurrency reached this price for the first time after 10 June.

The Trump effect carried it up…

In the recent rise of Bitcoin, Donald Trump’s statements and even the armed assassination he suffered may be effective. Bitcoin, which fell sharply at the beginning of June, continued this decline in July and saw $53 thousand, started to rise after Trump’s armed attack on 13 July. Opening the 13th of July at the level of $57,800, Bitcoin closed the day above $59,000. The price rose sharply in a few days and reached $65,000 on 15 July.

Just in those days, it was announced that Trump would make a speech at the Bitcoin Conference. The dominance in Bitcoin, which made a rally with Trump, also rose above 56%.

Trump’s commitment to a strategic reserve at the conference also brought a serious rise in price on Saturday evening.

Fed expectation

One of the most important periods expected by traditional financial markets such as cryptocurrency markets is the Fed’s FOMC meeting in September… The expectation at the meeting on 18 September is for a 25 basis point interest rate cut, but there is still no certainty on this issue.

The lack of a meeting in August and the very low expectation of an interest rate cut from the meeting on 31 July will lead to a quiet period of about 2 months in this sense.
Bitcoin, which rose to $70,100 in the afternoon hours, is trading around $69,700 at the time of writing the news.