Zerocap Chief Investment Officer: Bitcoin will break $70,000 in the next few weeks

Odaily News Jonathan de Wet, chief investment officer of Zerocap, said in an investor report on Wednesday that Bitcoin's upward momentum remains strong. "We expect (Bitcoin) to reach $70,000 in the coming weeks," de Wet said, noting that technological breakthroughs provide a solid foundation for its further rise. Intergovernmental blockchain expert Andy Lian said that Trump's plan to create a Bitcoin reserve may mark a turning point in crypto regulation, "Such political support may lead to a more favorable regulatory environment, boosting investor confidence and demand." Lian believes that driven by global monetary policies, Bitcoin will reach an all-time high next week, and news such as major central banks' sharp interest rate cuts may boost risky assets including cryptocurrencies. (Decrypt)