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 PRICE WILL RISE ABOVE 0,000 SAYS ANTHONY POMPLIANO!! BTC DEMAND IS SKYROCKETING!!
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Morgan Creek Digital co-founder and prominent Bitcoin advocate Anthony Pompliano says the BTC price will soar above $400,000 en route to an $8 trillion dollar market cap.
In a new interview with Peter McCormack, the host of the What Bitcoin Did podcast, Pompliano explains why he expects the king crypto will eclipse the market capitalization of gold.
“Here’s what I continue to tell people, name to me a business that was analog and got digitized and the digital version is smaller than the analog version. It doesn’t happen. It’s because digitization brings all kinds of advantages. It’s a market-expanding technology.
There are people [who] would debate what the size of the gold market is but let’s just use easy numbers. Let’s say that it’s $8 trillion. That puts Bitcoin at, depending on how many are lost or stolen, $400,000 [to] $450,000 today. Do you think that Bitcoin is going to be the equivalent of the gold market? I don’t. It’s better. It’s going to capture more market.”
To support his argument, Pompliano says Bitcoin is a story of technological evolution akin to internet-powered giants like Airbnb and Uber.
“One day, I believe we will say ‘Bitcoin is the largest currency in the world in terms of market cap and it will have no one controlling it.’”
As for the next two years or so, the Morgan Creek Digital executive is sticking to his prediction that BTC will skyrocket to $100,000 by the end of 2021.
Pompliano says the US government’s monetary policy of printing trillions of dollars in stimulus will be one of the main catalysts that will drive the value of the king coin.
“Now what we see is a world where gold, Bitcoin, real estate are all going to do really well. Because you simply can’t print trillion of dollars of a currency and have no impact on that currency.
We’re literally seeing the exact theoretical impact of quantitative easing become reality. They printed trillions. The dollar got weakened. When the dollar weakens, asset prices all explode.”
In other trending Bitcoin News today:
ANALYST: BITCOIN’S RECENT SURGE LOOKS LIKE THE START OF 2019’S 250% RALLY
According to the trader that predicted Bitcoin’s breakout at the start of 2019, BTC looks structurally similar to the 2018-2019 bear market bottom:
“Can’t believe I didn’t see it before. On the Weekly, classic pattern I call the “Smooth Transfer of Power” A. Bears get weaker as price descends B. Bulls silently buying all along take control C. Re-test of power D. Lift off Compare to the Monthly one, Crypto Winter ’18-’19.”
The trader is saying that should history rhyme, BTC is on the verge of an extended bull run.
The formation of Bitcoin’s candles isn’t the only trend that analysts see as a signal of an impending long-term bull run.
Bitcoin’s “Super Trend” on the weekly chart just printed a bullish candle for the first time since the start of 2019’s rally.
The trader who made this observation first wrote in regards to the chart below:
“The supertrend went green on the weekly. Probably no big deal. It’s not like this indicator has marked major macro bull & bear cycles in the past.”
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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:
Analyst: Bitcoin’s Recent Surge Looks Like the Start of 2019’s 250% Rally
https://cointelegraph.com/news/3-bullish-signs-that-overall-demand-for-bitcoin-is-skyrocketing
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BITCOIN ‘HEAVY BREAKOUT’ FRACTAL SUGGEST BTC PRICE WILL HIT $250K-$350K IN 2021!!!!
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Bitcoin has the potential to push its prices to between $250,000 and $350,000 by the end of 2021, a long-standing fractal suggests.
The analogy appeared in anticipation that Bitcoin could post a 2017-like bull run, in which the BTC price rose by more than 1,900%.
First spotted by pseudonymous analyst Bit Harington, the bullish setup drew its inspirations from Bitcoin’s secular bull runs every time after halvings when the miner block reward gets cut in half.
Cointelegraph Markets analyst Michaël van de Poppe reacted to Harington’s fractal theory, adding that it would lead the Bitcoin prices to the $250,000-$350,000 range.
“This makes a ton of sense and in line with my ideas too.
Somewhere 2017 we are. Heavy breakout to come at a later stage to ~$250-350K and then landing on $65K in the bear market for Bitcoin.”
In other trending Bitcoin News today: Another Week of Institutional Accumulation: CoinShares Sees $42 Million Weekly Crypto Inflows!
Institutional investors have kept accumulating cryptocurrencies for five weeks in a row now, according to CoinShares’ latest report.
Digital asset investment products saw inflows totaling $42M last week. Inflows were seen across all digital assets and signals what we believe to be continued improving sentiment amongst investors.
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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:
https://medium.com/coinshares/volume-47-digital-asset-fund-flows-weekly-973795359933
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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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