The day of the US presidential election on November 5th is getting closer and closer, and the price of Bitcoin also saw a significant rise last night, returning to the $70000 mark after several months. However, some analysts warn that regardless of the election results, there may be a wave of selling due to profit taking in the days after the election results are announced.

After the election, there is a possibility of a decline

Tyrol Capital's Chief Investment Officer Edouard Hindi stated in an interview with The Block that:

The profit taking after the announcement of the results may lower the price of Bitcoin, but the support below $60000 should still be strong

However, Edouard Hindi added that regardless of the election results, Bitcoin may still regain momentum in the medium term and reach a new high in 2024. On the other hand, Ryan Lee, Chief Analyst of Bitget Research, also pointed out that with the arrival of the US election day, Bitcoin will experience significant growth.

Multiple factors support the potential rise of Bitcoin, especially the expected interest rate cut by the Federal Reserve. The market generally expects a 25 basis point rate cut on November 7th, bringing the interest rate down to the range of 4.5% to 4.75%, reflecting the need for adjustments to stabilize economic growth

Ryan Lee emphasized that the two-day gap between the US election and the Federal Reserve's interest rate decision could have a significant impact on the price of Bitcoin.

The direction of this impact will depend on whether a candidate who supports Bitcoin wins

Other influencing factors of Bitcoin

In addition, Ryan Lee also stated that events including the "Microsoft shareholder vote on whether to invest in Bitcoin" may continue to affect market dynamics after the election.

Microsoft has included "evaluating investments in Bitcoin" on the agenda of its 2024 annual shareholder meeting, which is expected to be held in early December. If the board of directors votes against investing in Bitcoin, it may dampen market enthusiasm and hinder Bitcoin's growth. On the contrary, if Microsoft decides to invest, it may trigger a significant upward trend in the market.

Ryan Lee predicts that the trading price of Bitcoin in the coming week may be between approximately $66000 and $75000, with a confidence level of 70%, while Ethereum may fluctuate within the range of $2350 to $3200. He also pointed out that the improvement in liquidity may increase the activity of altcoins.

(责任编辑：私募资讯)

• ·嘉兴商业贷款可以转公积金贷款吗？想要了解一下。
• ·挖矿怎么用显卡了
• ·线上代理是什么意思 线上代理是什么意思啊
• ·10月31日金鹰先进制造股票(LOF)C净值下跌0.03%，今年来累计上涨2.5%
• ·11平台元宝-元宝平台什么时候成立的
• ·10月31日中欧精益稳健一年持有混合净值下跌0.08%，近1个月累计下跌0.8%
• ·全国支付货币排行_虚拟币 app_什么平台可以买币
• ·dkc手机钱包
• ·芜湖什么枣叫什么牌子
• ·货币积分近年价格
• ·相约 TOKEN2049，在狮城与 Morph 共话「Consumer Day」
• ·个人挖什么币 个人挖什么币最赚钱
• ·CTH 集团、Axlflops 和 MetaEra 共同公布 Palo Alto AI X Web3 峰会的首发嘉宾阵容
• ·10月31日长江长扬混合发起A净值下跌0.22%，近1个月累计下跌1.45%
• ·美国长期国债收益率或因政策信心下降而上升
• ·谷歌选择不让出版商控制人工智能的使用