10x Research: Technical indicators turn bullish, Trump's election victory boosts Bitcoin price rise
10x Research released a market analysis report stating that it had mentioned in its June 25th report that "Bitcoin is severely oversold". Currently, three market reversal indicators have turned bullish. The approval of the Ethereum ETF has been postponed to around July 8th, delaying the Sell The News date. Meanwhile, Biden's poor performance in the presidential debate and the market's optimism about Trump's election victory are pushing up Bitcoin prices.
As US President Biden refuses to let other Democratic candidates compete with former President Trump, Bitcoin has risen by 4%. It is reported that Biden's family is supporting his re-election campaign, as is every Republican. Market views suggest that Biden seems unlikely to defeat Trump in the November elections. Polls show that even if Biden withdraws from the race soon, another candidate like California Governor Gavin Newson would also lose to Trump.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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