In October 2024, Bitcoin reached a new historical value of $68,000 USD. This growth was fueled by several key factors, including ETF investments and ongoing political events in the USA.

Bitcoin's Current Achievements

As of October 16, 2024, Bitcoin's price reached $68,000 USD. This significant milestone was driven by substantial capital inflows into Exchange-Traded Funds (ETFs) and speculation about potential changes in crypto industry regulations in the USA. Bitcoin showed a growth of 5.36% in the previous day and an additional 0.77% on the historic day.

Impact of Political Factors

According to Tokocrypto trader Fyqieh Fachrur, political events in the USA play a crucial role in the crypto market dynamics. The potential re-election of Donald Trump and its possible impact on financial market regulation is attracting increased investor attention.

Trump's victory in the upcoming elections could bring fresh air to the crypto market.Fyqieh Fachrur

Risks and Future Prospects

Despite the positive momentum, there are risks associated with the potential sale of significant Bitcoin reserves by the US government. This could put pressure on the market price. The flow of investments into ETFs is also linked to investor confidence in Bitcoin's further growth, but other factors such as Federal Reserve interest rate policies and the ongoing political situation in the USA should be considered.

The current Bitcoin growth inspires optimism among investors but also demands caution due to potential risks. Future regulatory changes could significantly impact further price movements, and investors should closely monitor ongoing events.