That person is causing trouble again, with some mysterious operations in Mentougou!
Everyone has been waiting for the U.S. election. It officially started yesterday at 1 PM Beijing time and will continue until before 11 AM on November 6th, after which the votes will be counted. This means that around noon today, the results should come out, and once the results are in, they will be verified, and then there will be a meeting, with the official inauguration not happening until January 20, 2025.
Last night at 10:30 PM, after the U.S. stock market opened, stocks of Trump's media company soared, and Musk's company stocks also rose accordingly. Bitcoin then jumped by $1,500, breaking through the $70,000 mark, and Dogecoin also surpassed $0.18, rising by 10%.
Is the Don really stable? According to polls, his chances have risen to 62%, and he is also leading in swing states. Just now, Bitcoin broke through $71,000 again, truly full of momentum.
At this time, Mentougou is also stirring things up, transferring Bitcoin wildly; in the past five days, 34,796 coins have been transferred out. The operations are quite puzzling, really showing off. Anyway, the market will definitely be turbulent in the next couple of days. My suggestion is to observe if possible and not let these fluctuations affect your mindset, as the post-election market is the most worth looking forward to.
No matter who wins, historically, Bitcoin has always reached new highs after every major election. If the Don wins, the price increase of Bitcoin will only be more intense. What do you think?
Returning to market analysis: I mentioned in yesterday's article that a lower shadow line appeared on the 4-hour level. As long as it does not fall below the lowest point, it will rebound. Sure enough, last night as Trump gained momentum, Bitcoin rose as expected.
From the K-line perspective, Bitcoin is in an upward trend on the 1-hour, 4-hour, and 12-hour levels, while the daily level has not fully entered an upward trend. As long as there is no major drop today, it should turn into an upward trend tomorrow.
The election results are about to be announced, and short-term volatility will increase, so remember to use low leverage and just hold spot positions.
Bitcoin hits a new high! It skyrocketed to $75,000!
Just before the election vote results are about to be announced, Bitcoin hit a new high, reaching $75,000.
Is Dogecoin also taking off? Can Musk capitalize on this momentum?
In the atmosphere of the U.S. election, Dogecoin has also started to rise wildly! As Trump gained momentum, Dogecoin immediately surged by 27%, truly astonishing! Coupled with Musk's support, this coin has simply taken the entire market by storm.
If Trump really wins, the cryptocurrency market might see a major explosion, especially Dogecoin, which could really become a winner! Moreover, if Musk can smoothly become the 'Efficiency Minister', Dogecoin's performance might be even more vigorous.
However, this wave of operations is also quite exciting. If Trump wins, Musk may truly welcome a wave of 'ascension' operations; if Harris wins, Musk will probably have to be careful, as the results may have a hint of 'settling scores after the fact'.
While the election is bustling, don't forget about the interest rate decision on the 8th, which is also a significant piece of news.
Last Friday's non-farm payroll data only increased by 12,000 people, marking a new low since 2020. At this rate, a 25 basis point rate cut seems almost certain, and the rate cut cycle looks like it will continue.
So I dare say that even if Harris is elected, the bull market's progress may not necessarily stop. The overall economic environment is still in a quantitative easing cycle, and with so much capital in the market not being invested, that's simply impossible. Therefore, one can imagine that cryptocurrencies could be one of the investment directions.
However, short-term volatility may be significant, and I've reminded everyone of this multiple times in my articles. Everyone must be mentally prepared; don't wait until the market drops to regret it.
The most important thing is still to control position risk and manage positions well; this is key.
