BTC Price Surges Amid Multiple Positive Industry Developments

  • Bitcoin enjoyed a bullish week amid multiple positive developments.
  • The BTC price surged from $26,330 on June 19 to a yearly high of $31.458 on Friday.
  • Robert F. Kennedy Jr., a Presidential Candidate, proclaimed support for Bitcoin.

Bitcoin enjoyed a bullish week amid multiple positive developments. The BTC price surged from $26,330 on June 19 to a yearly high of $31.458 on Friday, June 23, 2023, according to data from TradingView. Bitcoin dragged the rest of the cryptocurrency market along, with almost all the top cryptos registering significant gains.

Among the positive developments for the crypto market are the launch of digital assets trading by EDX Markets and the proclaimed support for Bitcoin by one of the Presidential Candidates in upcoming elections in the US. 

According to reports, Robert F. Kennedy Jr., a Presidential Candidate in the upcoming US elections, promised to create policies that support Bitcoin and the freedom to transact if elected President. He also opposed the creation of Central Bank Digital Currencies (CBDCs), noting that they are instruments of control and oppression and are certain to be abused.

Kennedy Jr. became the fourth Presidential Candidate in the current dispensation to declare support for Bitcoin. According to Michael Saylor, CEO of MicroStrategy, that is an unprecedented development in the history of the US. He acknowledged that events around the crypto industry could lead to a Bitcoin-centric future.

In a Twitter update on July 22, CrediBULL Crypto argued that the next four months should deliver the price momentum needed to tackle the $69,000 Bitcoin price. Despite clarifying he wouldn’t bet on any specific month for Bitcoin to achieve the new all-time high (ATH), the renowned analyst mentioned that October 2023 could be a significant period in that regard. 

CrediBULL further explained that for Bitcoin to deliver a new ATH as projected, the flagship crypto needs to present increasingly larger green amounts of candles. That will keep it in line with previous impulse periods. According to him, the ascent on impulses only gets steeper as prices move into a parabolic advance.

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