Friends, this week, a bullish rally will be driven or they will crash; the truth is that the events of this week can impact the price of Bitcoin and other cryptocurrencies.
Supply and demand rise or fall due to economic and political factors. Some believe that a victory for Trump, who has promised to make the United States the capital of cryptocurrencies, would drive its price up to $90,000 in a short time. Meanwhile, a victory for Harris, who has promised regulations for cryptocurrencies, might cause the price to drop to $40,000, as some think there isn't enough sympathy towards them. The most logical thing is that immediately either outcome will affect cryptocurrencies; however, it will depend on the decisions the next president makes.
This week, a decision from the FED regarding whether to lower interest rates is also expected on the 6th or 7th. As I mentioned, if they lower the rates, this may cause more investors to lean towards risk assets, increasing the demand for cryptocurrencies and of course their price.
Friends, I look forward to your opinions; we are in a week of volatility. What will happen? And what will be the outcome of it all? Leave your comments, and thanks for supporting me.
