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：货币)

• ·exSat 主网上线，寻找 BTC 生态的下一个爆发点
• ·BCH是什么币？怎么购买BCH币？BCH币官网总量和币种概念介绍
• ·vb币发行多少枚
• ·新芯股份科创板IPO已问询 聚焦特色存储、数模混合和三维集成等领域
• ·虚拟货币交易平台app下载 2025虚拟币交易平台app排行
• ·云计算概念31日主力净流出111.17亿元，润和软件、中国长城居前
• ·从特朗普效应、Microstrategy 溢价到流动性周期，解构 2024 年 BTC 价格表现
• ·聚币换平台
• ·小规模核定销售额应该怎么申报
• ·meme币交易所下载安卓最新 meme币最新版手机app下载
• ·用盈余公积补亏为什么增加了未分配利润
• ·西昌电力收盘涨9.98%，主力资金净流出2992.52万元
• ·img币行情
• ·腾达科技收盘涨5.0%，主力资金净流入2242.21万元
• ·宜人贷极速模式是怎么通过审核拿到贷款的，有人使用过极速模式吗？
• ·什么是关联方关系的认定方法？