Last night, BTC dropped sharply, briefly falling below 68k, but by morning it recovered back to 68k and is pushing towards 69k. Tomorrow is the day of the U.S. elections, and online there is an overwhelming amount of propaganda from both sides, nearly drowning out all other news.
On October 29, 2024, the price of Bitcoin was $73,620, and on November 3, 2024, the price of Bitcoin was $67,478. A nearly 8.3% pullback before the election can be considered a very timely and healthy trend. If it did not pull back and directly broke new highs, regardless of who is elected, it would drop. After the pullback, if Trump is elected, it will shoot straight up to an all-time high~; if Harris is elected, the market will decline in the short term, but the drop will be limited.
Whether Trump or Harris takes office, some trends are certain and will not change based on human will. For example, the scale of U.S. debt will inevitably continue to grow, the Federal Reserve will continue to print money, and BTC will inevitably aim for the moon.
Regardless of who takes over the White House, the common approach will push the Federal Reserve to further implement loose policies. After all, printing money is the best way to create political achievements, and there may no longer be a second option. Currently, BTC is under 70k; those who are overly greedy only see that BTC is so expensive, but they fail to notice that the dollars available to buy in are in huge quantities. And for these large funds, if they consider buying, they will primarily buy BTC. For these large funds, Bitcoin is really not expensive.
Last Thursday (the last blast before the attack! Bitcoin surged violently but then corrected, while Ethereum followed suit!) made it very clear: I did not increase my position above 70k due to concerns about a potential pullback from the whales. I initially thought there would be a pullback after breaking new highs, but this time there was a significant correction first. However, it's okay; since the pullback has finished and this blast has also completed, we need to increase our position.
Yesterday, BTC's daily line closed with a long shadow bearish candle, indicating resistance encountered during the decline. BTC's daily line has seen five consecutive bearish candles, and today is likely to close with a bullish candle. Pay attention to the important support around 67,500; if it cannot be effectively broken, there shouldn't be a major issue.
Additionally, altcoins have plummeted sharply these days. If you want to trade altcoins, you should look for those that typically show strong rebound strength, such as $ARKM, $WIF, $NEIRO, etc.
#美国大选后涨或跌？ #比特币矿工收入飙升 #11月市场预测 #美联储利率决议来袭 #BANANA、ADA、ENA大额解锁
$BTC
