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：宏观研究)

• ·股权转让企业所得税怎么算
• ·rsk币今日价格-rsk币行情
• ·现代服务业和生活服务业的区别是什么
• ·币安与Kraken成功抵御社交工程攻击
• ·利润表成本增加资产负债表怎么调整
• ·BTC突破108000美元关口，24小时涨幅达1.44%
• ·未来还有上涨空间？比特币创历史最高单日收盘价
• ·挖矿有什么风险 挖矿有什么风险吗?
• ·请问叮当贷逾期后果有什么？我已经逾期了半个月了。
• ·黑客从位于 Sui 的去中心化交易所窃取价值 2.23 亿美元的加密货币
• ·好申请的手机贷款软件有哪些？申请条件要低，而且通过率要高。
• ·钱包怎么编程教程 钱包怎么编程教程视频
• ·火币网上线
• ·比特币行情对冲
• ·Vitalik 2049 演讲全文：以太坊需要在满足需求的同时，保持开源和去中心化的价值观
• ·股票拉升意思-股票拉升意思是什么