Three Factors That Could Push Bitcoin Above $80,000

The first factor is the US election. The US election is huge for crypto. Most people see it as a binary outcome: Trump = good, Harris = bad. There is no doubt that a Republican victory would be a good sign for crypto given its strong and growing support for the crypto space.

The second factor is the economy. The number one reason people are drawn to Bitcoin is simple: you can’t trust the government to manage money. This idea gave birth to Bitcoin in 2008 and remains a strong driver for crypto today… The Fed is currently expected to cut rates by another 50 basis points by the end of the year, and China is also expected to roll out additional fiscal stimulus. If both happen, Bitcoin will rebound in the fourth quarter.

The third factor is that there will be no major negative surprises for crypto. The last thing you need to achieve a rally to $80,000 is a period without major surprises. No major hacks. No massive new lawsuits. No previously locked-up tokens suddenly entering the market. Unfortunately, the history of crypto is plagued by countless such surprises.

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