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:财经专题)
-
你可以测试哪些页面最吸引人,然后根据这些优势来制作更多的页面。...[详细]
-
该公司近年来多次传出上市消息,但从未有明确时间。...[详细]
-
根据资料,目前的K12业务包括录播课、私播课、和东方优播推出的在线小班课。...[详细]
-
10月31日浙商全景消费混合A净值下跌1.31%,近1个月累计下跌8.75%
企业还是要练好内功,规范运作,稳妥推进,通往IPO之路才能顺利。...[详细]
-
看下面这种不算复杂的图,好歹我也是学过管理信息系统,用流程图的形式理了理指标之间的作用关系,影响因素和对应的责任部门。...[详细]
-
10月31日建信新材料精选股票发起C净值增长0.33%,今年来累计上涨21.39%
和ETCP的合作是支付年费,方式是通过停车时间计费。...[详细]
-
在后续的《当我们谈论乡村旅游的时候,我们在谈什么?》(下)中,笔者将试图基于场地—内容—消费者三元要素的消费场景体系来探讨如何在乡村旅游项目的开发过程中进行资源判断、产品生...[详细]
-
10月31日南方消费升级混合C净值下跌1.54%,近1个月累计下跌2.08%
群脉:内容管理+大数据采集 对于“一条”这样的创业新媒体平台,时间与机会成本则是上升发展的最大瓶颈,为了解决这个问题,同时更好地管理线上庞大的用户,&ld...[详细]
-
(2)英雄背景的选择思路 《英雄联盟》起源于欧美,它的风格深受欧美游戏风格影响,所以它虚构了一个史诗般的完整的背景故事,所有英雄都是这个故事的延伸,但随后它的用户遍布了整个星球,他们有着不同的价...[详细]
-
CPO概念31日主力净流出9.15亿元,跃岭股份、天孚通信居前
阳光100联合毛大庆优客工场全国布局、毛大庆投资无界空间、远洋地产与WeWork合作等等,各家宣布获得融资的共享办公空间几乎无一列外的拿到了房地产企业的投资。...[详细]