Bitcoin Reaches $72,000: What Is Fuelling This Trend? What Investors Need To Know

From US elections to the October effect, here's what is driving the latest BTC rally.

October has long been known as a bullish month for markets, especially for Bitcoin.

Source : Tamim Tarin/Pixabay

After more than four months of anticipation, Bitcoin has surpassed the $70,000 mark, currently trading at $72,100 which is just a few points away from the all-time high of $73,000. This is the third time this year that Bitcoin is trading above the $71K mark with the first time in March, followed by June and now. Let’s see what is driving this trend. Central Banks' Ease of Interest Rates One of the biggest factors powering Bitcoin’s rise is the policy shift from major central banks