(International) Cryptocurrency Bitcoin Reclaims $70,000 in Four Months

On US cryptocurrency exchange Coinbase, the price of each bitcoin rose 2.99% from 24 hours ago to $70,124, crossing the $70,000 mark for the first time in more than four months since June 7.

Bitcoin rose to the $68,000 range on the 24th and fell to the $65,000 range on the 24th following reports that US authorities are investigating possible violations of anti-money laundering regulations by stablecoin issuer Tether Holdings.

Money inflows into virtual currencies are accelerating ahead of the US presidential election on the fifth of next month, with net inflows into digital assets reaching $90 million in the past week.

Options traders are increasing their bets, believing that Bitcoin will reach an all-time high of $80,000 by the end of November regardless of who wins the presidential election, according to Bloomberg.

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