The US presidential election is a significant event with far-reaching consequences, not just for the United States but for the global economy as well. As the 2024 election approaches, with Donald Trump potentially facing off against Vice President Kamala Harris, the effects on various economic sectors, including the cryptocurrency market, are increasingly scrutinized.
The cryptocurrency market is particularly sensitive to geopolitical events, and the US elections are no exception. Bitcoin, along with other cryptocurrencies, tends to experience increased volatility during election cycles due to its decentralized nature and its growing role as a hedge against traditional financial systems. Investors closely watch the stances of leading candidates on regulations concerning cryptocurrencies, with the possibility of more stringent regulations under a new administration often leading to short-term market corrections.
For instance, the 2020 election saw Bitcoin prices fluctuate as candidates’ positions on digital assets became a focal point for investors. A similar trend is expected in 2024. If Donald Trump, known for his critical stance on Bitcoin during his first term, re-emerges as a strong contender, there could be renewed concerns about potential regulatory crackdowns. On the other hand, Kamala Harris, though not particularly vocal about cryptocurrency, represents continuity with the current administration, which has taken a more cautious approach to regulation.
As the race intensifies, market analysts predict that a Trump vs. Harris contest will bring heightened volatility to the financial markets, including cryptocurrencies. A Trump victory could spark fears of increased regulation, potentially dampening market enthusiasm. Conversely, a Harris win might maintain the status quo, with gradual progress in crypto regulation, providing a more stable environment for growth.
In conclusion, while the exact outcomes remain uncertain, the US elections will undeniably influence the global economy and the cryptocurrency market. Investors are advised to stay informed and prepared for potential shifts as the election date approaches.
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BITCOIN WILL SUCK IN EVERY ASSET, SPIT IT OUT AND SURPASS #post_titleM IN 5 YEARS, SAYS MACRO GURU RAOUL PAL!
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Raoul Pal, co-founder and CEO of Real Vision Group, says Bitcoin is a “supermassive black hole” that is eating gold, the NASDAQ, banks, bonds, and commodities.
The global macro strategist notes that he also thinks BTC will outperform the G4 Central Bank Balance sheet, silver and marquee stocks like Apple and Amazon. Says Pal on Twitter:
“Bitcoin’s performance is SO dominant and SO all-encompassing that it is going to suck in every single asset narrative dry and spit it out. Never before in my career have I see a trade so dominant that holding any other assets makes almost no sense.
The macro, flows, technology, demography and societal strains have all converged to this moment in time and the definite answer from markets is – Bitcoin.”
Pal predicts BTC will reach $1 million within five years.
The former Goldman Sachs hedge fund manager says Bitcoin is the best opportunity of his career.
“I get this sounds a little evangelical but I’m struggling to see it any other way right now. The supermassive black hole is going to suck in everything. Again, this is there best trade/investment and future opportunity I have EVER found and it has the power to give the little guy a chance to grab their share of the wealth creation before Wall Street does. Grab it.”
Analysts think that the cryptocurrency is poised to rocket even higher in the weeks ahead.
The charts show that BTC is about to break above a pivotal horizontal resistance at $14,000, which should trigger a move toward $20,000 and beyond in the months ahead:
“There are literally only two resistances left on the bitcoin chart – 14,000 and then the old all-time high at 20,000. I fully expect new all-time highs by early next year at the latest.”
Other prominent investors in the crypto space expect a strong rally in the months ahead.
Tyler Winklevoss, one of the two Winklevoss Twins that launched Gemini and are now Bitcoin billionaires, commented recently:
“I do think we will see an all-time-high price for Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run.”
Pal thinks it’s logical to invest in Bitcoin due to the coin’s increasingly strong performance against all other assets, which should drive institutional players and retail players into the mix:
“Bitcoin’s performance is SO dominant and SO all-encompassing that it is going to suck in every single asset narrative dry and spit it out. Never before in my career have I see a trade so dominant that holding any other assets makes almost no sense. The macro, flows, technology, demography and societal strains have all converged to this moment in time and the definite answer from markets is – bitcoin.”
It’s worth noting that Pal says to have more than 50% of his net worth in Bitcoin, arguing that it may be the best trade of his lifetime.
In other trending Bitcoin News today:
Bitcoin Price Sees Pullback, But Bulls Still Marching Toward $20K
Bitcoin’s price saw a 4% drop in the last 24 hours, but it’s unlikely to see a correction like in previous cycles for three reasons.
The price of Bitcoin (BTC) has increased by 36% in the last 35 days, showing a strong rally.
The market sentiment has been optimistic due to rising institutional demand and the perception of BTC as an inflation hedge.
But after a large uptrend, the belief that BTC may pull back has begun to increase.
While a minor correction could occur, like the 4% downward trip to just under $13,000 on Oct. 28, a sizable downtrend is becoming increasingly unlikely.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Bitcoin is eating the world…It has become a supermassive black hole that is sucking in everything around it and destroying it. This narrative is only going to grow over the next 18 months.
You see, gold is breaking down versus bitcoin…and gold investors will flip to BTC pic.twitter.com/ox7KRY5VRo
— Raoul Pal (@RaoulGMI) October 27, 2020
I do think we will see an all-time-high price for #Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run
— Tyler Winklevoss (@tyler) October 27, 2020
As I’ve been pointing out… There nothing but air from $14,000 to new ATH
I don’t expect any kind of pullback until $28,000 and it may be short lived. https://t.co/UC0iCCVzp6
— Max Keiser (@maxkeiser) October 27, 2020
Wall Street Veteran Raoul Pal Thinks Bitcoin Will Pass $20,000 in Q1 2021
https://cointelegraph.com/news/bitcoin-price-sees-pullback-but-bulls-still-marching-toward-20k
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ANTHONY POMPLIANO – XRP And Ripple New Outlook | Brad Garlinghouse Interview
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Bitcoin bull Anthony Pompliano shares his thoughts on the future of XRP, Ripple, and Bitcoin in his latest interview with Ripple CEO Brad Garlinghouse.
At the end of this exclusive 90-minute interview, Anthony Pompliano says he thinks there are a couple of likely outcomes for the future of Fintech.
For starters, Pompliano says Ripple’s mission to help banks become more efficient makes a lot of sense.
“I think I’m actually on the podcast, on the record, saying it’s important to separate out the software company from XRP. I actually think that having software that makes banks run better – there’s a big business to be built there. We’ve actually invested in a bunch of businesses that are trying to disrupt software that is currently in banks or helping banks be more efficient. That all makes a lot of sense to me.”
Are Altcoins ready to explode?!
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
News Resources From Today’s Show:
Bitcoin Bull Anthony Pompliano Reveals New Outlook on Ripple and XRP
https://www.stitcher.com/podcast/blockworks-group/off-the-chain/e/64470239
https://www.ccn.com/bitcoin-bull-anthony-pompliano-roasted-twitter/
Bitcoin continues marching forward.Block after block after block.Completely immune to the manipulation of economies or political instability of nations.Bitcoin is doing exactly what it was designed to do.
What a beautiful thing to witness.
— Pomp 🌪 (@APompliano) October 9, 2019
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320: BITCOIN PRICE WILL HIT 0,000 SAYS CRYPTO ANALYST!! K BTC TARGET ON TRACK BY END OF 2020!!
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The pseudonymous analyst who goes by the name Dave the Wave predicts the Bitcoin price will hit $500,000 – eventually.
Dave, a technical trader who correctly predicted the BTC collapse from $11,600 to $6,400 last year, is reacting to Tyler and Cameron Winklevoss’ recent Bitcoin analysis.
The twin brothers and co-founders of crypto exchange Gemini say Bitcoin is undervalued as long as it trades below $500,000, citing the likelihood of hyperinflation in the US that could drive Bitcoin as a safe-haven asset.
“Good to see a reasonable price projected here by the Winklevoss brothers.”
In response, Dave shared his analysis of Bitcoin’s long-term trajectory, which tracks the cryptocurrency’s past price movements and increasingly long cycles.
His chart shows Bitcoin could reach $500,000 sometime around 2029.
“When peaks are ‘stepped’, they meet on the logarithmic growth curve. With each subsequent cycle – from base to peak – an extra year is added.”
The trader, who refers to himself as a “BTC Centrist,” also recently released a projection predicting Bitcoin would hit $100,000 sometime in early 2023.
That’s a slightly more conservative projection than the one recently released by PlanB, the controversial analyst who burst onto the scene last year after being the first to apply the stock-to-flow (S2F) ratio to Bitcoin.
PlanB’s latest S2F forecast predicts BTC will hit $100,000 even earlier, by August 2021.
The pseudonymous analyst’s newest cross-asset model, BTC S2F (S2FX), enables the valuation of different scarce assets like silver, gold and Bitcoin with a single formula.
It predicts Bitcoin will be worth $288,000 by 2024 year end.
In other trending Bitcoin News today:
BITCOIN COULD SURGE TOWARDS $20,000 BY END OF 2020: MARKET CYCLE ANALYSIS
A market cycle analysis by one crypto trader suggests that Bitcoin will hit $20,000 in the coming months, likely by the end of 2020.
The charts show that per historical market cycles, BTC is at the point of its ongoing bull market where it will begin its parabolic ascent towards its previous all-time high.
This market cycle forecast isn’t the only analysis showing that Bitcoin could hit $20,000 by the end of 2020.
This strong sentiment has been echoed by a number of market participants.
Mike McGlone, the senior commodity analyst at Bloomberg Intelligence, commented in a research report on crypto:
“Bitcoin is mirroring the 2016 return to its previous peak. That was the last time supply was halved, and the third year after a significant peak. Our graphic depicts Bitcoin marking time for a third year following the parabolic 2017 rally… Fast forward four years and the second year after the almost 75% decline in 2018, Bitcoin will approach the record high of about $20,000 this year if it follows 2016’s trend.”
Arthur Hayes, CEO of BitMEX, has also mentioned this price target.
In an April blog post, he said that the Federal Reserve money printer and other macro trends will push the asset to its all-time high this year:
“As violent as the Q1 collapse in asset values was, we have almost 100 years of imbalances to unwind the ancien régime. My end of 2020 price target remains $20,000.”
He seemingly doubled down on this price target in a recent blog post.
“I, like many other pseudo intellectual keyboard warriors, have a massive upside price target for Bitcoin. I will get to that in the next digest. But Q4 is going to be a humdinger. The financial markets are going to whipsaw as politicians contort themselves to continue feeding at the trough.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
The road to 500K and price stability.When peaks are ‘stepped’, they meet on the logarithmic growth curve.
With each subsequent cycle – from base to peak- an extra year is added. pic.twitter.com/i4HN49UdGi
— dave the wave (@davthewave) January 5, 2019
BTC Monthly:Yesterday the month closed above the 50% Fib retracementSo what buddy!Well if past cycles are a sign and the pattern continues, the launch sequence has been initiated.1. Halving ✅2. Monthly close above 50% Fib Retracement ✅3. Bull market 🚀to 🌜
Let’s Go! pic.twitter.com/qlLRZjphD8
— Nunya Bizniz (@Pladizow) September 1, 2020
I don’t normally like making definitive #bitcoin price predictions. That being said, this is the last time you’re going to see bitcoin below $12K…until it goes back above $12K.
— Cameron Winklevoss (@winklevoss) September 2, 2020
Bitcoin Could Surge Towards $20,000 by End of 2021: Market Cycle Analysis
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