BTC 24-hour upside potential; downside over the 7-day horizon

Bitcoin reached a five-week high over the weekend supported by hopes of a Republican victory in November. These were slightly dashed on Sunday when the Democratic presidential candidate Joe Biden dropped out of the race, increasing the chances of a Democratic victory. A Republican victory is seen as much more favorable for the cryptosphere.

The SEC has extended its deadline for comments on the potential listing and trading of options on trusts or ETFs holding Bitcoin to between Sept 21 and Nov 20, the US regulator said.

The price of Bitcoin dropped 1.4 percent to $66,838 over the past 24 hours, Trading View’s Bitcoin chart shows. ATTMO forecasts a sunny day ahead for Bitcoin, indicating a potential upside, yet, drizzle within 3 days, extending to the next week, which could announce a bearish trend and downside for the biggest crypto.

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