There's a lot of talk about bitcoin exploding however all we have seen on the asset for the last five months is a very slow decline overall with some rapid ups and down.
as we can see by the chart above we have pretty much been in a holding pattern for a while now but things are about to change that could very well impact the price of bitcoin in a big way outside of the halving event etc.
The first being the very real possibility of the fed starting to cut rates. If this happens it should bump the markets stocks and crypto alike and we are expected to maybe see up to three rate cuts this year even if they are small 25 points each of these would single bullish for bitcoin.
Politics of course plays into this as well. If Trump wins there will most likely for sure be a major rally. But even if Kamala wins it's going to be that same battle we have gotten use to for the last 4 years now and still have come out on top it's just a very annoying process of an oppressive government that continues to remove freedoms. All she would have to do though is say one pro crypto thing to swing votes her way towards the end of the running just before voting which could be enough to rise crypto as well to some level.
Blackrock ETFs and other ETFs is a hot item and while it might not seem like it being that the price has hardly moved these ETFs are actully grabbing up a ton of the asset and these places are also investing into their own ETFs and launching their own tokens. That's huge and is only growing.
Where might this land the bitcoin price?
Well it's anyone's guess but if it were up to me if we got a rate cut 3 times this year and trump wins the election I could see bitcoin at around $114,000 by year end.
*This article is for entertainment purposes only and is not financial advice. Do your own research before investing and understand the risks.
This also speculates that next year 2025 could spark a alt coin season as well which is something many people have been waiting a long time for. While there's been a little positive pressure on the altcoin side many of them have under performed, crashed in value or just have gone belly up. A real altcoin season still has not set in.
We can see this alt coin trend happening with prices at the moment where bitcoin rises seems to stagnate and then bam bitcoins dominance falls back to 40% from 70% and altcoin season is in full swing.
Now the crazy thing about alt coin seasons is they seem to only last roughly one year so they are things you need to act on fast. What should happen is that things will drastically be changing over the next few months.
Posted Using InLeo Alpha
