On the eve of the US election, the price of Bitcoin rose by more than 3% to above $70,000, and the trading volume soared by 140%. Regardless of the outcome of the election, there are positive expectations for cryptocurrencies such as Bitcoin.
1. The impact of the US election on Bitcoin: Trump supports cryptocurrencies, while Harris promises to support the regulatory framework for the industry. If Trump is elected, Bitcoin may break through $75,000; if the Democrats win, Bitcoin may temporarily fall, but may reach a record high of around $75,000 by the end of the year.
2. Reasons for the surge in cryptocurrencies: The Fed's interest rate cuts, the Bitcoin DMA indicator releases bullish signals, Microsoft plans to purchase Bitcoin, and Musk publicly praises Dogecoin, which have jointly promoted the surge in cryptocurrencies.
