Bitcoin Rebounds with Positive Signals Aiming for $70,000

Bitcoin [BTC] is on the verge of breaking above $70,000. While the claim may seem bold, just a few weeks ago, the cryptocurrency was struggling to hold above $60,000.

Bitcoin Shows Strong Demand

The market has changed dramatically, creating favorable conditions for bullish investors to push prices higher. Over the past six days, Bitcoin has shown strong demand, a sign that buyers have regained control after cooling off in the first 10 days of October. In other words, BTC appears to be rebuilding the same bullish momentum seen in September.

There are several reasons why Bitcoin could reach $70,000 in the coming days or weeks.