Bitcoin breaks through $71000 and strives to reach its previous high! Analysts warn of potential sell-off after election
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:银饰)
-
2017年知识付费成为内容创业领域燃起的一个新热点,而这个热点,源自早些时候的“新媒体创业”。...[详细]
-
但是,永安行也存在着严重的问题: 招股说明显示,截至2016年12月31日,永安行负债总额7.63亿元,资产负债率接近60%。...[详细]
-
2007年1月底,在上线1个多月的niconico上,用户发出的弹幕总数已经超过了500万条,视频的观看数量超过1亿次。...[详细]
-
Cathie Wood:黄金对比特币的“替代”现在正在进行中
虽然张兰与俏江南总是话题缠身,但从一个普通人的角度看,一个白手起家的女人,靠自己的努力,积累一分一毛,忍着失去亲人的痛苦,从一家小餐馆做到全国二十个省市70家直营店的餐饮企业,哪怕里面有不少让人惋...[详细]
-
广告是短视频重要的收入来源,北半球已经与一些游戏厂商达成了合作。...[详细]
-
专家解析:XRP若飙升至100美元,如何实现财富自由并避免常见陷阱
3月21日,摩拜单车宣布,正式在新加坡投入运营,开始海外战略。...[详细]
-
在2005年,菲亚特集团想以10亿美金入股俏江南,都被张兰一口拒绝。...[详细]
-
一般需要补交年报,如果资料没问题就能申请移出,但是可能会伴有相应罚款。...[详细]
-
Ripple:如果比特币达到 110,000 美元,XRP 能否收回 3 美元?
反而这个时候,老员工在这方面发挥的作用更大,因为他们对过去饿了么发展的经历、历程、文化,包括处理事情的方式非常了解,同时(他们)在公司德高望重。...[详细]
-
张雪松:我想张伟一个问题,你们现在主要是UGC吗? 张伟:不只是,PGC和UGC我们各占一半。...[详细]