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A popular crypto trader and analyst says three crypto assets are primed to accelerate toward new all-time highs. Smart Contracter tells his 137,000 followers that while some are calling for a Bitcoin retest of the $40,000 level, he’s ready for the flagship crypto BTC to make a move up to $75,000 before the end of May.
“Really not much has changed for BTC, looking like a smaller flat within a larger flat, new all-time highs are on the way. $40,000 callers are just straight up coping at this stage.”
In other trending Bitcoin News today: Hedge Fund Legend Stanley Druckenmiller Says Crypto Could Replace US Dollar As Global Reserve Asset!
The chairman and chief investment officer of the Duquesne Family Office, Stanley Druckenmiller, shared in a recent CNBC interview: “5-6 years ago I said crypto was a solution in search of a problem. The problem has been clearly identified. It is Jerome Powell and the rest of the world’s central bankers. There is a lack of trust.”
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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:
All-Time Highs Imminent for Bitcoin and Two Altcoins, Says Top Analyst
https://cointelegraph.com/news/bitcoin-whale-microstrategy-buys-additional-271-btc
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How the US Presidential Elections Impact Global Cryptocurrency Market
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.
