The last few days have been a little crazy in terms of price action which is starting to feel like once again we might be breaking out of that ATH (All Time Highs) and pushing unto unknown territory.

What is pretty clear is that no matter who is elected crypto has a set way it's going to go and that's further adoption and increase exposure to everyone.

Let's take a look at all the primary news and things going on with crypto and in particular bitcoin at the moment.

First President Bitcoin Transaction

Trump recently made headlines not only for his sons launching a crypto marketplace/exchange but also for making the first bitcoin transaction as a president.

I'm not that excited about it but of course it does bring legitimacy and people interested into bitcoin who haven't already started to use it which is always a plus.

He's also been doubling down on getting bitcoin as a major player in the USA to help pay off the debt the USA currently has which is currently still out of control to the point of where the amount of debt is not slowing down or getting any better. It's near the tipping point in which the debt might never be able to be paid off simply because of how much is currently being collected in interest.

Also Kamala has come out being pro crypto. Now while I don't believe a word of this at all as people like this will say anything to try and get votes and when they are in office not delivery on anything they said they would. Yep, people love their power and will say anything. Base your votes on ACTIONS not by words.

Fed Rate Cutes

It's also expected that the next two meetings by the fed will be 25 points each. Now of course that might change depending on how fast inflation comes down but normally when you have a major rate cut like we just had people get a little to excited and start spending money they don't have which further bumps inflation once again.

These rate cuts however have normally always had a positive impact on the markets both stock and crypto so it's expected to see bitcoin continue to push higher over the rest of the year.

The Charts

Normally with bitcoin consolidating on a downward trend for months and bouncing back is almost like a base line holding period for when things blow up. At least that's how it's been in the past but it's always unclear if that will be the case this time around or even when that will be.

I'm of course speculating here in saying that I expect the price to really go wild if Trump gets elected for president over Harris. While Harris has come out and kinda sorta showed a little support for crypto it's been shady at best and they always beat around the bush in terms of calling it blockchain over crypto.

This chart shows that base line which has been going on since march of this year. These normally last around 6 months before the rally or yes some times the massive crash which is something you also have to look out for.

It's anyone's best guess but I think the markets will be waiting a bit for the next two months until elections are held and a winner is announced. What are you thoughts on Bitcoins next moves?

Are we going to continue this pattern of ups and downs into 2025?

Will the election winner be a major deciding factor even pushing the price up or crashing it down?

Posted Using InLeo Alpha