briefly climbed above $70,000 as investors braced themselves for MicroStrategy earnings and counted the days to the U.S. presidential election.
The price of bitcoin was last higher by about 3% at $69,925.00, according to Coin Metrics. At about 6:00 p.m. Eastern on Monday, it touched $70,207.02 and has been oscillating since.Sign up for NBC LA's News Headlines newsletter. Optimism is building ahead of the U.S. presidential election next week. Bitcoin has been confined to a tight range between $55,000 and $70,000. However, it may be poised for a breakout with stocks hitting new highs this month, Election Day on Nov. 5 and another Federal Reserve rate policy decision on Nov. 7.. Democratic nominee and Vice President Kamala Harris has been more muted on crypto, and the industry is split on how her potential presidency could affect crypto companies.
Elsewhere, investors are watching for earnings from Coinbase and MicroStrategy, both slated for Wednesday. On Monday, MicroStrategy, which trades as a high-beta play on the price of bitcoin, recorded its highest close since March 15, 2000.MicroStrategy is looking to extend its seven-week win streak, its longest since rally since an 11-week streak that ended in late October 2010.Tether denies report of U.S.