1: The Democratic Party is not the absolute leader in the US election
The results of the US election have had a profound impact on the cryptocurrency market. Although there is a view that Trump is open to cryptocurrencies and Harris is not, the views on cryptocurrencies within the Democratic Party are not monolithic. Politicians such as Elizabeth Warren are cautious about it, while others such as Ritchie Torres are supportive.
The cryptocurrency market has had a tough time over the past four years as conservative Democrats have dominated policy. However, if the Democrats fail to achieve a landslide victory in the election, their attitude towards cryptocurrencies may tend to balance out.
It is worth noting that even some Democrats who were once skeptical of cryptocurrencies have begun to recognize its inevitable development trend. This change in concept may become a key factor in pushing the price of Bitcoin close to $80,000.
2: Loose monetary policy and global economic easing
Despite continued growth in the U.S. economy, the Fed has chosen to cut interest rates, while China has also launched an economic stimulus package. These policies have not only promoted the prosperity of traditional markets, but also driven up the price of cryptocurrencies. The market generally expects that the Fed may cut interest rates again before the end of the year, and China may continue to launch new stimulus policies.
Under the influence of these expectations, the cryptocurrency market is expected to rebound in the fourth quarter. Loose monetary policies and global economic expansion have provided sufficient liquidity for cryptocurrencies, helping to drive their prices up.
3: The cryptocurrency market is stable and far away from "black swans"
To achieve new highs in Bitcoin prices, we need to ensure that the market remains stable and avoids major risk events. This includes avoiding large-scale hacking attacks, new legal proceedings, and a sudden influx of a large number of locked tokens into the market. Historically, events such as the bankruptcy of Mt. Gox and the release of Bitcoin by governments have caused sharp market fluctuations.
If the market can remain stable and avoid these potential risks before the end of the year, Bitcoin is expected to reach a new price peak.
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