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：基金专题)

• ·共和黨眾議員要求 SEC 主席解釋其對「代幣空投」的態度
• ·bitbay是什么
• ·比太钱包冷钱包
• ·苏宁任性付为什么关闭额度？我今天看我的苏宁任性付账号不能借款。
• ·有什么特产什么好酒
• ·景旺电子(603228.SH)：正在配合相关客户研发相关嵌入式封装技术
• ·以太坊（ETH）可能比预期更快达到 3,000 美元，原因如下
• ·我想在在小赢卡贷上贷款，不知道精英贷怎么样？靠不靠谱啊？
• ·下载火币网比特币
• ·九联科技(688609.SH)：公司自动智能清扫车已形成商用
• ·一文读懂鲍威尔重磅鹰派记者会的问答要点
• ·苹果怎么下载meme币 meme币最新版下载链接有没有
• ·炒股软件可以看BTC-炒股软件可以看铜价吗
• ·memeBIAN卓下载地址入口 memeBIAN卓手机平台最新版
• ·lisk币今日行情-lisk币价格走势
• ·德创环保(603177.SH)：未开发固态钠离子电池材料