1. The US Federal Reserve's interest rate cuts in September are a big plus. China announced the release of 2 trillion yuan at the end of September, lowering the reserve requirement ratio, interest rates, and the interest rates of existing mortgage loans to support the development of the stock market! This is also a positive!
The market is currently full of expectations for the US interest rate cuts and stimulus policies. It is currently expected that the US Federal Reserve will cut interest rates by another 50 basis points (2 points) before the end of the year, and China will also release more fiscal stimulus measures. If the expectations come true, Bitcoin will usher in a strong rebound!
2. The US election has a huge impact on cryptocurrencies. Trump’s election is bullish, while Harris’s election is bearish.
As long as the Democratic Party does not fully control both houses of Congress (Senate, House of Representatives) and the White House, the Democratic Party's attitude towards cryptocurrencies will be more neutral. So Comrade Chuan Jianguo has to work hard!
3. No black swan events in the cryptocurrency world! For example, large-scale hacker attacks, new large-scale lawsuits, and sudden sell-offs of locked tokens: In the past few quarters, the release of locked bitcoins from bankrupt exchanges such as Mt. Gox and government assets has led to increased market price volatility. If such events are avoided before the end of the year, I expect Bitcoin to hit a record high or even surpass it.
4. The rise of Bitcoin is inseparable from everyone's consensus! The market can only rise when there are more people in the circle!
The overall rise in the cryptocurrency market has helped boost Bitcoin prices. Although Bitcoin's long-term success does not rely on Ethereum, Solana, and other altcoins, crypto market sentiment is a necessary consideration for Bitcoin to surge in the short term: Looking back at Bitcoin's history, from June 2019 to June 2020, Bitcoin fluctuated between $8,000 and $10,000, but began to rise in the summer of 2020, eventually rushing to $60,000. Most of this fluctuation was driven by economic stimulus during the epidemic, but some of it was also driven by market sentiment from the "DeFi Summer."
This year, beyond Bitcoin, this sentiment seems to be picking up in other crypto areas, such as stablecoin market caps hitting new highs, and community support for high-performance blockchain projects such as Sui, Aptos, and Monad, which are exploring how Bitcoin holders can earn returns through staking. If the momentum in these areas can continue, it will help drive the market.
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