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：时讯)

• ·okt币初始价格
• ·中国山寨币交易平台
• ·NEAR币种价格-near币最新价格
• ·ODIN行情
• ·币圈10大交易所排行榜 国外2025数字货币10大交易所排行
• ·欧意交易平台最新版_比特币钱包安全版更新
• ·KULR 将比特币储备规模扩大至 7800 万美元，年初至今 BTC 收益率达 220%
• ·在中国怎么交易比特币
• ·比特币未平仓合约创下 800 亿美元纪录，价格跌破 11.1 万美元
• ·特朗普称与俄罗斯总统普京通话“非常顺利” 积极推动俄乌谈判进程
• ·股票早开-股票早开盘时间
• ·信用报告有逾期申请宜人贷能过么，申请宜人贷都有什么要求？
• ·Cardano迎牛市信号：Dan Gambardello预测ADA即将爆发
• ·加密货币交易平台排名 全球币圈八大交易所
• ·年会费用计入哪个科目
• ·BTC跌破102700美元，24小时跌幅达1.11%