Bitcoin Price Exceeds $70,000

The price of Bitcoin on the Binance exchange has surpassed $70,000, marking the first time it has done so since the end of July. However, subsequently, the price has slightly decreased, according to TASS.

During trading on the Binance cryptocurrency exchange, the value of Bitcoin exceeded $70,000. This has not occurred since July 29. However, as of 2:49 AM Yerevan time, the exchange rate dropped to $69,812.

Bitcoin is a cryptocurrency that operates on blockchain technology. The initial concept of the cryptocurrency was introduced in November 2008 by the pseudonymous Satoshi Nakamoto. Bitcoin has gradually gained popularity, especially in recent years. Its issuance is algorithmically limited, and most of the coins have already been “mined.”

As reported by the VZGLYAD newspaper, during the trading session on the Binance platform, the price of Bitcoin dropped by more than 11%, reaching $53,524. The decline is linked to the collapse of the Japanese financial market, and the high volatility of the cryptocurrency makes it sensitive to any fluctuations in global markets, according to expert Nikolai Kulbakin.

U.S. presidential candidate Donald Trump, speaking at the Economic Club of New York, promised to make the United States the “global capital” of cryptocurrencies.